-------------------------------------------------------------------------------
      name:  <unnamed>
       log:  /Users/AZeitz/Dropbox/Financial Regulation Research/Outputs/ISQ/Re
> vised/Final manuscript/Replication/jones&zeitz-replication.smcl
  log type:  smcl
 opened on:  10 Jul 2019, 16:00:21

. do "/var/folders/wd/6lrhntn504zbm20spv6pl9q80000gn/T//SD39267.000000"

. *** ============================================================
. ** Title: Regulatory Convergence in the Financial Periphery: How interdepende
> nce shapes regulators' decisions
. ** Authors: Emily Jones and Alexandra O. Zeitz
. ** Replication file 
. *** ============================================================
. 
. 
. *** ============================================================
. ** Set working directory and load complete dataset
. cd "/Users/AZeitz/Dropbox/Financial Regulation Research/Outputs/ISQ/Revised/F
> inal manuscript/Replication"
/Users/AZeitz/Dropbox/Financial Regulation Research/Outputs/ISQ/Revised/Final m
> anuscript/Replication

. 
. **Load complete dataset
. use "AA-workingdata.dta", replace

. 
. *** ============================================================
. **Create Figure 1:
. * Plot of level of Basel II adoption among those countries outside of the Bas
> el Committee in a given year 
. 
. *Create count of how many countries each year are not members of the Basel Co
> mmittee
. qbys year: egen count_nonmemb=count(iso) if net_bcbs==0 & bii_index!=.

. *Create count of how many non-members in a given year have adopted one compon
> ent or more
. qbys year: egen nr_adopt1=sum(bii_adopt) if net_bcbs==0 & bii_index!=.

. *Create count of how many non-members in a given year have adopted two compon
> ents or more
. qbys year: egen nr_adopt2=sum(bii_adopt2) if net_bcbs==0 & bii_index!=.

. *Create count of how many non-members in a given year have adopted five compo
> nents or more
. qbys year: egen nr_adopt5=sum(bii_adopt5) if net_bcbs==0 & bii_index!=.

. *Create count of how many non-members in a given year have adopted all ten co
> mponents
. qbys year: egen nr_adopt10=sum(bii_adopt10) if net_bcbs==0 & bii_index!=.

. *Calculate percentages
. gen pct_adopt1=nr_adopt1/count_nonmemb
(1,790 missing values generated)

. gen pct_adopt2=nr_adopt2/count_nonmemb
(1,790 missing values generated)

. gen pct_adopt5=nr_adopt5/count_nonmemb
(1,790 missing values generated)

. gen pct_adopt10=nr_adopt10/count_nonmemb
(1,790 missing values generated)

. *Label variables
. label variable pct_adopt1 "One component or more"

. label variable pct_adopt2 "Two or more components"

. label variable pct_adopt5 "Five or more components"

. label variable pct_adopt10 "All ten components"

. twoway line pct_adopt1 pct_adopt2 pct_adopt5 pct_adopt10 year if year>2003 & 
> year<2015, xline(2008) scheme(s2mono) ///
>                 graphregion(color(white)) ytitle("% of jurisdictions outside 
> Basel Committee adopting Basel II", size(small)) ///
>                 xtitle("Year", size(small)) ylabel(, labsize(small)) xlabel(,
>  labsize(small)) legend(size(small))

. graph export figure1.eps, as(eps) replace
(file figure1.eps written in EPS format)

. 
. *** ============================================================
. ** Create Table 1:
. * Summary statistics
. 
. *For the entire panel*
. *Drop unnecessary years and observations
. keep if year>2005 & year<2015 & net_bcbs==0 & bii_index!=.
(2,080 observations deleted)

. drop rf07* st07* sov07* net07* trade07* rfnB* stnB* sovnB* netnB* tradenB* rf
> 12* st12* sov12* net12* trade12* rf12nB* st12nB* sov12nB* net12nB* trade12nB*

. *Summarize variables for full panel
. outreg2 using sum1.doc, replace sum(log) fmt(fc) label keep(bii_index Lreceiv
> eforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin ///
>                 Lsovrating_spw_same Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp
> 1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiyr) eqkeep(mean sd N) ///
>                 sortvar(bii_index Lreceiveforeign_wght_bin Lsendingabroad_wgh
> t_bin Lnetwork_spw_bin ///
>                 Lsovrating_spw_same Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp
> 1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiyr)

    Variable |        Obs        Mean    Std. Dev.       Min        Max
-------------+---------------------------------------------------------
        year |        783     2009.64    2.622068       2006       2014
         iso |        783    429.1507    253.9476          8       1002
    bank_abr |        775    .5354839    .4990614          0          1
     bankcon |        625    74.08807    18.80911   21.14829        100
      fbanks |        572    48.51049    25.52918          2        100
-------------+---------------------------------------------------------
    net_bcbs |        783           0           0          0          0
          eu |        783    .0625798    .2423605          0          1
  privcredit |        726    47.03786    35.23803   2.105908   229.2056
gdp_pc_const |        758     7364.16    12454.38   175.7875   69094.74
   gdp_const |        758    9.47e+10    2.37e+11   5.95e+08   3.20e+12
-------------+---------------------------------------------------------
  fdi_in_gdp |        718    5.993486    10.65947  -5.980456   220.0027
fitch_rating |        462    10.22727    4.432462          1         22
   fincrisis |        556     .044964    .2074118          0          1
     reg_eap |        783     .137931     .345048          0          1
     reg_eca |        783    .2068966    .4053396          0          1
-------------+---------------------------------------------------------
     reg_lac |        783    .2183908    .4134181          0          1
    reg_mena |        783    .1417625    .3490293          0          1
      reg_na |        783           0           0          0          0
      reg_sa |        783    .0613027     .240038          0          1
     reg_ssa |        783    .2337165    .4234644          0          1
-------------+---------------------------------------------------------
   marketcap |        389    56.38878    92.68993   .0092866   1254.465
   fatf_list |        783    .0408685     .198112          0          1
  population |        774    3.27e+07    1.14e+08     615875   1.32e+09
     polity2 |        763    4.069463    6.041558        -10         10
         cpi |        761    61.29961    16.21069          4         86
-------------+---------------------------------------------------------
        cbiu |        607    57.15931     17.5236     7.6625     97.375
        cbiw |        607    57.15012    19.04808      13.45   97.89999
ovr_cap_st~g |        147    4.223129    1.754957          1          7
     cap_reg |        146    6.556164    1.978957          2         10
   sup_power |        152    11.42917    2.260314          5         16
-------------+---------------------------------------------------------
privatemon~g |        135    7.849383    1.541423          4         11
accounting~s |        154    .7922078     .407051          0          1
extgov_index |         85    14.49412    1.918727          8         18
gov_effect~s |        172    .0298689    .7994518  -1.360103   2.253301
regulatory~y |        171    .0560079     .783554   -2.09711   1.970678
-------------+---------------------------------------------------------
    latejoin |        783    .1162197     .320693          0          1
latejoin_neu |        783    .0536398    .2254496          0          1
        eccu |        783           0           0          0          0
        wamu |        783           0           0          0          0
privcredit~g |        604    21.71474     29.4371          0        100
-------------+---------------------------------------------------------
   sup_banks |        679    5.003855    5.514188   .2795031   79.93237
brss_govba~i |        688    15.74514    20.83236          0         90
  brss_car_i |        510    .1196508    .0814279          0       .642
 brss_crar_i |        686    .1625894    .0549695          0        .36
         imf |        783    .2132822    .4098872          0          1
-------------+---------------------------------------------------------
   imf_iiiyr |        783    .3524904     .478051          0          1
 gdp_pc_thou |        758     7.36416    12.45438   .1757875   69.09474
gdp_pc_iii~i |        756    7.249274    12.42489   .1656668   68.47406
    ptfl_gdp |        555    .8601888    5.675062  -6.064341   80.47496
       legor |        757    1.990753    1.134439          0          4
-------------+---------------------------------------------------------
   imf_ofc_i |        729    .1399177    .3471398          0          1
   doi_ecr_i |        720    4.872222    2.904183          0          8
  bankconavg |        665    74.22133    18.08264   19.90651        100
      region |        783    3.482759     1.73777          1          6
  bii_sa_imp |        783    .4163474    .4932677          0          1
-------------+---------------------------------------------------------
bii_firb_imp |        783    .1289911    .3354043          0          1
bii_airb_imp |        783    .1047254     .306395          0          1
 bii_bia_imp |        783    .3499361    .4772544          0          1
 bii_tsa_imp |        783    .2873563    .4528184          0          1
 bii_ama_imp |        783    .0906769    .2873326          0          1
-------------+---------------------------------------------------------
 bii_smm_imp |        783    .2809706    .4497605          0          1
  bii_im_imp |        783    .1174968    .3222172          0          1
bii_~rii_imp |        783    .2541507     .435661          0          1
bii_~iii_imp |        783    .2873563    .4528184          0          1
  biii_index |         76    1.223684    1.815479          0          7
-------------+---------------------------------------------------------
   bii_index |        783    2.318008    3.126861          0         10
   bii_adopt |        783    .5031928    .5003094          0          1
  bii_adopt2 |        783    .4010217    .4904187          0          1
  bii_adopt5 |        783     .238825    .4266381          0          1
 bii_adopt10 |        783    .0536398    .2254496          0          1
-------------+---------------------------------------------------------
     bii_add |        783    .6296296    1.696466          0         10
    smallpop |        783           0           0          0          0
 irt_mean_rs |        707     .706058    .8327493          0      2.672
sendingabr~n |        707    1.363097    2.392381          0         10
sendingabr~d |        707    1.323503    2.393189          0         10
-------------+---------------------------------------------------------
receivefor~n |        707     4.48853    3.729255          0         10
receivefor~d |        707     4.45616    3.763797          0         10
sendi~n_nors |        707    6.244696    12.71471          0        107
sendi~d_nors |        707    8.601132    22.14073          0        347
recei~n_nors |        707    24.38472    26.08738          0        146
-------------+---------------------------------------------------------
recei~d_nors |        707    38.71287    47.62859          0        420
sendin~n_irt |        707    .4065584     .646279          0      2.641
sendin~d_irt |        707    .3951678     .645344          0      2.641
receiv~n_irt |        707    1.205024      .95948          0      2.643
receiv~d_irt |        707    1.197182    .9679557          0      2.643
-------------+---------------------------------------------------------
sovrating~at |        783    2.082075    2.598139          0   9.065342
sovrating_~n |        783    1.990491    2.694176          0       9.56
sovrating_~e |        783    1.863819    2.901725          0         10
sovra~t_nors |        783    10688.73       13203          0      47658
sovra~n_nors |        783    69.15581    90.27865          0        317
-------------+---------------------------------------------------------
sovra~e_nors |        783    12.02171    22.47296          0        136
sovrat~t_irt |        783    .5955567    .6967873          0   2.323034
sovrat~n_irt |        783    .5737963    .7145488          0    2.44272
sovrat~e_irt |        783    .5401297    .7690358          0      2.645
netw~n_nobcg |        783    2.056231    2.258883          0   7.695652
-------------+---------------------------------------------------------
netwo~n_wbcg |        783    2.210987    2.352138          0   7.695652
net~n_rcgbcg |        783    2.616469    2.446105          0         10
ne~obcg_nors |        783    48.96296    51.17711          0        196
ne~wbcg_nors |        783    58.39591    65.14504          0        287
ne~gbcg_nors |        783    67.05364    68.77319          0        287
-------------+---------------------------------------------------------
netw~d_nobcg |        783    2.081979    2.312072          0   7.695652
netwo~d_wbcg |        783    2.228493    2.394975          0   7.695652
net~d_rcgbcg |        783     2.73287    2.517356          0         10
net~obcg_irt |        783    .5944292    .6088498          0   2.097435
net~wbcg_irt |        783    .6340262    .6307626          0   2.097435
-------------+---------------------------------------------------------
net~gbcg_irt |        783    .7481873    .6450296          0   2.609263
totaltrad~ht |        778    5.394897    3.032074   .0019545   9.829544
lgtotaltr~ht |        778    4.792046    2.404395   .0483019   9.054834
tradetogd~ht |        762    5.370917    3.035356   .0019545   9.829544
tradebin10~t |        762    5.568792    2.926548          0   9.933333
-------------+---------------------------------------------------------
tradebin20~t |        762    5.488167    2.744907          0   9.633333
tradebin3~ht |        762    5.240955    2.575467          0   9.230769
tradebin40~t |        762    5.037342    2.450155        .05   9.117647
totaltrad~rt |        778    1.432527    .7648345   .0007419   2.553668
lgtotaltr~rt |        778    1.303518    .6106376   .0181021   2.387879
-------------+---------------------------------------------------------
tradetogd~rt |        762    1.427388    .7660931   .0007419   2.553668
tradebin3~rt |        762    1.412699    .6550439          0   2.443231
bii_index_~r |        783    2.318008    3.126861          0         10
     imputed |        783           0           0          0          0
gdp_pc_thou1 |        765    7.422438     12.4556   .1757875   69.09474
-------------+---------------------------------------------------------
      lgdppc |        765    1.461356    1.046033    .039358   4.247911
  gdp_const1 |        765    9.44e+10    2.35e+11   5.95e+08   3.20e+12
        lgdp |        765    23.96768    1.668564   20.20408   28.79425
 fdi_in_gdp1 |        765      5.9192    10.51125          0   220.0027
 privcredit1 |        756    48.05368    36.07178   2.105908   229.2056
-------------+---------------------------------------------------------
   ptfl_gdp1 |        711    .8051159    5.163376  -6.064341   80.47496
ptfl_gdp_sq1 |        711    27.27116    335.8414          0   6476.219
    bankcon1 |        747     75.1249    19.27078   21.14829        100
gov_effect~1 |        729   -.0211014    .7722665  -1.360103   2.253301
regulatory~1 |        724    .0079705    .7548484   -2.09711   1.970678
-------------+---------------------------------------------------------
ovr_cap_st~1 |        716    4.140503    1.719947          1          7
    cap_reg1 |        716    6.455028    1.930807          2         10
accounting~1 |        689    .7953556    .4037346          0          1
  sup_power1 |        725    11.48891     2.20519          5         16
privatemon~1 |        706    7.906043     1.56855          4         11
-------------+---------------------------------------------------------
extgov_ind~1 |        482    14.12448    2.249754          8         18
network_sp~n |        783    2.210987    2.352138          0   7.695652
network_sp~d |        783    2.228493    2.394975          0   7.695652
Lreceivefo~n |        783    3.722423    3.742832          0         10
Lsendingab~n |        783    1.078125    2.151921          0         10
-------------+---------------------------------------------------------
Lnetwork_s~n |        783    1.750916    2.182206          0   7.333333
Lsovrating~e |        783    1.338222    2.487348          0         10
Ltradebin~ht |        768    4.274953    2.949811          0      8.875
Lprivcredit1 |        756    46.03127    35.12323   1.201066   229.2056
Lfdi_in_gdp1 |        765    5.626171    6.733082          0   85.36795
-------------+---------------------------------------------------------
     Lpolity |        762    4.013123     6.07053        -10         10
        Lcpi |        758     61.8219    16.32727          4         86
       Lcbiw |        679    56.63729     19.1252      13.45   97.89999
   Lbankcon1 |        747    75.37126    19.10647   14.71041        100
  Limf_iiiyr |        783    .3690932    .4828677          0          1
-------------+---------------------------------------------------------
Lreceivefo~d |        783    3.688605    3.761409          0         10
Lsendingab~d |        783    1.041771    2.143265          0         10
Lnetwork_s~d |        783    1.763235    2.219161          0   7.425532
Lsovratin~at |        783     1.55615    2.289366          0   9.065342
Ltradetogd~t |        768    4.308429    3.292687   .0000103   9.817995
-------------+---------------------------------------------------------
Lbrss_govb~i |        673    15.95581    21.05236          0      95.78
Lregulator~1 |        723    .0015301    .7511821   -2.09711   1.970678
  Lsup_banks |        665    4.820411     4.62195   .1578947   41.57286
 Lsup_power1 |        724    11.53588    2.253049          4         16
Lovr_cap_s~1 |        709    4.030889     1.68251          1          7
-------------+---------------------------------------------------------
Laccountin~1 |        687     .797671    .4020289          0          1
Lprivatemo~1 |        698    7.921203    1.550674          4         11
     Llgdppc |        766    1.441543    1.045933   .0296707   4.247911
Lreceivefo~t |        783    1.001773    .9695051          0      2.643
Lsendingab~t |        783    .3268384    .5885456          0      2.641
-------------+---------------------------------------------------------
Lne~obcg_irt |        783    .4749173    .5619023          0     2.0088
Lsovratin~rt |        783    .3996104    .6687948          0      2.645
Ltradebin~rt |        768      1.1591    .7651153          0   2.326375
Lne~wbcg_irt |        783    .5096758    .5891932          0     2.0088
count_nonm~b |        783    89.45722     15.2775         76        108
-------------+---------------------------------------------------------
   nr_adopt1 |        783    43.14304    12.38708         16         58
   nr_adopt2 |        783     34.3576     12.5478          8         51
   nr_adopt5 |        783     20.1341    11.73072          1         38
  nr_adopt10 |        783    5.072797    6.850136          0         22
  pct_adopt1 |        783    .5031928    .1688285   .1495327   .7236842
-------------+---------------------------------------------------------
  pct_adopt2 |        783    .4010217    .1561358   .0747664   .6184211
  pct_adopt5 |        783     .238825    .1349318   .0093458   .4078947
 pct_adopt10 |        783    .0536398    .0616277          0   .2037037

Following variable is string, not included:  
country  
sum1.doc
dir : seeout

. 
. *For the 2008 cross-section*
. tsset iso year
       panel variable:  iso (unbalanced)
        time variable:  year, 2006 to 2014
                delta:  1 unit

. *Select observations from the 2008 model
. reg bii_index Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_b
> in Lsovrating_spw_same Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcp
> i Lcbiw Lbankcon1 Limf_iiiyr ib3.region if net_bcbs==0 & year==2008, robust

Linear regression                               Number of obs     =         96
                                                F(17, 78)         =      37.22
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6987
                                                Root MSE          =     2.4891

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_bin |   .3304814   .2088661     1.58   0.118     -.085339 
>    .7463019
 Lsendingabroad_wght_bin |   .5717876   .2248618     2.54   0.013     .1241221 
>    1.019453
        Lnetwork_spw_bin |   1.085145   .4270872     2.54   0.013     .2348793 
>     1.93541
     Lsovrating_spw_same |   .3622793   .2140157     1.69   0.094    -.0637932 
>    .7883517
        Ltradebin30_wght |  -1.288533   1.234201    -1.04   0.300    -3.745638 
>    1.168571
            Lprivcredit1 |   .0149546   .0088062     1.70   0.093    -.0025773 
>    .0324864
            Lfdi_in_gdp1 |    .004703   .0422679     0.11   0.912    -.0794459 
>    .0888518
                 Lpolity |   .0182887   .0566252     0.32   0.748    -.0944435 
>    .1310208
                    Lcpi |  -.0487088   .0185306    -2.63   0.010    -.0856005 
>   -.0118172
                   Lcbiw |   .0173221   .0140638     1.23   0.222    -.0106768 
>     .045321
               Lbankcon1 |   .0484777   .0155175     3.12   0.003     .0175848 
>    .0793706
              Limf_iiiyr |  -.5270936   .7989039    -0.66   0.511    -2.117589 
>    1.063402
                         |
                  region |
                    EAP  |   .7970867   .9331282     0.85   0.396    -1.060629 
>    2.654802
                    ECA  |   3.325151    1.41002     2.36   0.021     .5180155 
>    6.132286
                   MENA  |   1.397715   1.198848     1.17   0.247    -.9890079 
>    3.784439
                     SA  |   3.386136   1.216178     2.78   0.007     .9649119 
>    5.807359
                    SSA  |   1.463863   .8194481     1.79   0.078    -.1675333 
>    3.095259
                         |
                   _cons |  -.2858721   3.842768    -0.07   0.941    -7.936236 
>    7.364492
-------------------------------------------------------------------------------
-----------

. keep if e(sample)
(687 observations deleted)

. *Summarize variables from 2008 cross-section
. outreg2 using sum1.doc, sum(log) fmt(fc) label keep(bii_index Lreceiveforeign
> _wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin ///
>                 Lsovrating_spw_same Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp
> 1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiyr) eqkeep(mean sd min max N) ///
>                 sortvar(bii_index Lreceiveforeign_wght_bin Lsendingabroad_wgh
> t_bin Lnetwork_spw_bin ///
>                 Lsovrating_spw_same Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp
> 1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiyr)

    Variable |        Obs        Mean    Std. Dev.       Min        Max
-------------+---------------------------------------------------------
        year |         96        2008           0       2008       2008
         iso |         96    415.5521    240.2391          8        894
    bank_abr |         95    .6421053    .4819241          0          1
     bankcon |         91    73.03868    19.08782   22.60927        100
      fbanks |         84    46.90476    25.85204          2        100
-------------+---------------------------------------------------------
    net_bcbs |         96           0           0          0          0
          eu |         96    .1770833    .3837431          0          1
  privcredit |         95    53.47728     41.5952   4.995762   214.9309
gdp_pc_const |         95    9709.589    13882.04   235.9148   68501.19
   gdp_const |         95    1.76e+11    3.95e+11   6.92e+08   3.20e+12
-------------+---------------------------------------------------------
  fdi_in_gdp |         96    5.999772    5.951693  -.3823897   47.90748
fitch_rating |         70    9.571429    4.912485          1         22
   fincrisis |         87    .1264368    .3342676          0          1
     reg_eap |         96        .125     .332455          0          1
     reg_eca |         96    .3020833    .4615715          0          1
-------------+---------------------------------------------------------
     reg_lac |         96    .1979167    .4005205          0          1
    reg_mena |         96    .1354167    .3439642          0          1
      reg_na |         96           0           0          0          0
      reg_sa |         96       .0625    .2433321          0          1
     reg_ssa |         96    .1770833    .3837431          0          1
-------------+---------------------------------------------------------
   marketcap |         62    36.13834    36.79956   .5734473   168.3231
   fatf_list |         96    .0208333    .1435759          0          1
  population |         96    5.31e+07    1.83e+08     616969   1.32e+09
     polity2 |         96    4.979167    5.861523        -10         10
         cpi |         96    58.78125    18.39004          7         86
-------------+---------------------------------------------------------
        cbiu |         96    58.65662    17.65328   15.90461     88.875
        cbiw |         96    59.20894     19.2365   14.92171       89.9
    latejoin |         96       .3125    .4659456          0          1
latejoin_neu |         96    .1354167    .3439642          0          1
        eccu |         96           0           0          0          0
-------------+---------------------------------------------------------
        wamu |         96           0           0          0          0
privcredit~g |         83    19.26626    28.44845          0        100
   sup_banks |         83    5.412776    9.071951    .326087   79.93237
brss_govba~i |         88    16.45159     21.2767          0         90
  brss_car_i |         69    .1151406    .0794489          0       .548
-------------+---------------------------------------------------------
 brss_crar_i |         88     .150357    .0515618          0        .36
         imf |         96      .15625    .3649982          0          1
   imf_iiiyr |         96    .2604167    .4411657          0          1
 gdp_pc_thou |         95    9.709589    13.88204   .2359148   68.50119
gdp_pc_iii~i |         95    9.598941    13.99083   .2239017   68.47406
-------------+---------------------------------------------------------
    ptfl_gdp |         84   -.2475283    1.282803  -6.064341   3.312442
       legor |         94    2.106383    1.213438          0          4
   imf_ofc_i |         92    .1413043    .3502439          0          1
   doi_ecr_i |         92    5.228261    2.793648          0          8
  bankconavg |         89    72.93228    19.24748   19.90651        100
-------------+---------------------------------------------------------
      region |         96    3.239583    1.659073          1          6
  bii_sa_imp |         96    .5104167    .5025156          0          1
bii_firb_imp |         96    .2916667    .4569157          0          1
bii_airb_imp |         96         .25    .4352858          0          1
 bii_bia_imp |         96       .4375    .4986825          0          1
-------------+---------------------------------------------------------
 bii_tsa_imp |         96        .375    .4866643          0          1
 bii_ama_imp |         96    .2395833    .4290698          0          1
 bii_smm_imp |         96    .3958333     .491596          0          1
  bii_im_imp |         96    .2916667    .4569157          0          1
bii_~rii_imp |         96    .3229167    .4700457          0          1
-------------+---------------------------------------------------------
bii_~iii_imp |         96    .3854167    .4892484          0          1
   bii_index |         96         3.5     4.10904          0         10
   bii_adopt |         96    .5416667    .5008764          0          1
  bii_adopt2 |         96    .4895833    .5025156          0          1
  bii_adopt5 |         96    .3645833    .4838397          0          1
-------------+---------------------------------------------------------
 bii_adopt10 |         96      .21875    .4155687          0          1
     bii_add |         96       2.125    2.995611          0         10
    smallpop |         96           0           0          0          0
 irt_mean_rs |         96    1.006458    1.059438          0      2.637
sendingabr~n |         96     2.09818    2.895123          0         10
-------------+---------------------------------------------------------
sendingabr~d |         96    2.068546    2.925124          0         10
receivefor~n |         96    6.210976    3.226652          0         10
receivefor~d |         96     6.23632    3.294683          0         10
sendi~n_nors |         96    12.54167    20.74452          0        107
sendi~d_nors |         96    20.10417    45.66156          0        347
-------------+---------------------------------------------------------
recei~n_nors |         96    39.57292    33.16807          0        146
recei~d_nors |         96    69.86458    78.42591          0        420
sendin~n_irt |         96    .5872661    .7540554          0      2.626
sendin~d_irt |         96    .5761336    .7566217          0      2.626
receiv~n_irt |         96    1.655084    .8366534          0     2.6162
-------------+---------------------------------------------------------
receiv~d_irt |         96    1.658934     .854248          0   2.622143
sovrating~at |         96    3.091458     2.91987          0   8.503859
sovrating_~n |         96    3.065751    3.184397          0       9.32
sovrating_~e |         96    3.095176    3.572929          0         10
sovra~t_nors |         96    14724.81     13166.2          0      40871
-------------+---------------------------------------------------------
sovra~n_nors |         96    98.01042    93.51223          0        317
sovra~e_nors |         96    18.84375    32.93289          0        136
sovrat~t_irt |         96    .8545772    .7531023          0   2.210353
sovrat~n_irt |         96    .8490646    .8142566          0    2.41592
sovrat~e_irt |         96    .8560017    .9204165          0     2.6225
-------------+---------------------------------------------------------
netw~n_nobcg |         96    2.527623    2.247141          0       6.35
netwo~n_wbcg |         96    2.527623    2.247141          0       6.35
net~n_rcgbcg |         96    3.412444    2.696529          0         10
ne~obcg_nors |         96    56.82292    45.66099          0        127
ne~wbcg_nors |         96    56.82292    45.66099          0        127
-------------+---------------------------------------------------------
ne~gbcg_nors |         96     78.6875    63.88267          0        267
netw~d_nobcg |         96    2.571379    2.301049          0       6.35
netwo~d_wbcg |         96    2.571379    2.301049          0       6.35
net~d_rcgbcg |         96    3.583173    2.722447          0         10
net~obcg_irt |         96    .7164439    .6092672          0    1.74245
-------------+---------------------------------------------------------
net~wbcg_irt |         96    .7164439    .6092672          0    1.74245
net~gbcg_irt |         96    .9504147    .6969368          0   2.604526
totaltrad~ht |         96    5.987661    1.612072   1.115842   8.929651
lgtotaltr~ht |         96    5.177399    .6733361   3.691112   7.067338
tradetogd~ht |         96    5.987661    1.612072   1.115842   8.929651
-------------+---------------------------------------------------------
tradebin10~t |         96    6.458895      1.3599   2.181818      9.125
tradebin20~t |         96    6.398316     .943584   4.423077   8.548388
tradebin3~ht |         96    6.006832    .7488486   4.380952   7.630435
tradebin40~t |         96    5.713588    .5318196   4.517241     7.0625
totaltrad~rt |         96    1.606724    .4021454   .2967986   2.334564
-------------+---------------------------------------------------------
lgtotaltr~rt |         96     1.39748    .1675386    1.02512   1.852531
tradetogd~rt |         96    1.606724    .4021454   .2967986   2.334564
tradebin3~rt |         96    1.598965    .1884173     1.1735   1.997174
bii_index_~r |         96         3.5     4.10904          0         10
     imputed |         96           0           0          0          0
-------------+---------------------------------------------------------
gdp_pc_thou1 |         95    9.709589    13.88204   .2359148   68.50119
      lgdppc |         95    1.696446    1.132283   .0955556    4.23939
  gdp_const1 |         95    1.76e+11    3.95e+11   6.92e+08   3.20e+12
        lgdp |         95    24.46272    1.820426   20.35455   28.79425
 fdi_in_gdp1 |         96    6.003797     5.94746          0   47.90748
-------------+---------------------------------------------------------
 privcredit1 |         96    53.91265    41.59501   4.995762   214.9309
   ptfl_gdp1 |         91   -.2110183    1.252493  -6.064341   3.312442
ptfl_gdp_sq1 |         91    1.596028    4.853982          0   36.77623
    bankcon1 |         96    73.66589    19.32417   22.60927        100
gov_effect~1 |         92    .1487898    .8024506  -1.324062   2.253301
-------------+---------------------------------------------------------
regulatory~1 |         92    .1412853    .7813602   -2.09711   1.850466
ovr_cap_st~1 |         91    3.646154     1.61447          1          7
    cap_reg1 |         91    5.936264    1.818578          2         10
accounting~1 |         87    .7816092    .4155492          0          1
  sup_power1 |         91    11.69288    2.202684          5         16
-------------+---------------------------------------------------------
privatemon~1 |         88    8.075758    1.582735          4         11
extgov_ind~1 |         62          14    2.268819          8         17
network_sp~n |         96    2.527623    2.247141          0       6.35
network_sp~d |         96    2.571379    2.301049          0       6.35
Lreceivefo~n |         96     2.40444    1.580223          0      5.375
-------------+---------------------------------------------------------
Lsendingab~n |         96    .8920306    1.282437          0   4.857143
Lnetwork_s~n |         96    1.031027     .856091          0   2.473684
Lsovrating~e |         96    1.323599     1.69828          0   7.333333
Ltradebin~ht |         96    2.592955    .3694479   1.785714   3.488889
Lprivcredit1 |         96    51.31058    41.89924   2.707207   229.2056
-------------+---------------------------------------------------------
Lfdi_in_gdp1 |         96    7.103651    7.201266   .0556064   50.96784
     Lpolity |         96    4.760417    5.980221        -10         10
        Lcpi |         96    59.48958    18.26817          6         84
       Lcbiw |         96    59.44208     19.9702      13.45       89.9
   Lbankcon1 |         96    74.69685    19.99648   21.14829        100
-------------+---------------------------------------------------------
  Limf_iiiyr |         96      .34375    .4774521          0          1
Lreceivefo~d |         96      2.3637    1.614451          0          8
Lsendingab~d |         96    .8766953    1.312816          0   5.176471
Lnetwork_s~d |         96    1.037035    .8661072          0   2.473684
Lsovratin~at |         96    1.308749    1.246883          0   3.986002
-------------+---------------------------------------------------------
Ltradetogd~t |         96    2.244102    .8827594   .5195969   4.015296
Lbrss_govb~i |         85    17.75741    22.56429          0         90
Lregulator~1 |         92    .1412853    .7813602   -2.09711   1.850466
  Lsup_banks |         83    5.002026    5.242576   .2795031   41.57286
 Lsup_power1 |         91    11.69288    2.202684          5         16
-------------+---------------------------------------------------------
Lovr_cap_s~1 |         91    3.646154     1.61447          1          7
Laccountin~1 |         87    .7816092    .4155492          0          1
Lprivatemo~1 |         88    8.075758    1.582735          4         11
     Llgdppc |         95    1.677252    1.139931   .0851232   4.247911
Lreceivefo~t |         96    .7872548    .4989578          0     1.6662
-------------+---------------------------------------------------------
Lsendingab~t |         96    .3086058    .4301961          0   1.606857
Lne~obcg_irt |         96    .3489645    .2935705          0   .8996842
Lsovratin~rt |         96    .4478225    .5180983          0   1.937667
Ltradebin~rt |         96    .8347052    .1270447   .5745238   1.122818
Lne~wbcg_irt |         96    .3489645    .2935705          0   .8996842
-------------+---------------------------------------------------------
count_nonm~b |         96         108           0        108        108
   nr_adopt1 |         96          58           0         58         58
   nr_adopt2 |         96          51           0         51         51
   nr_adopt5 |         96          38           0         38         38
  nr_adopt10 |         96          22           0         22         22
-------------+---------------------------------------------------------
  pct_adopt1 |         96     .537037           0    .537037    .537037
  pct_adopt2 |         96    .4722222           0   .4722222   .4722222
  pct_adopt5 |         96    .3518519           0   .3518519   .3518519
 pct_adopt10 |         96    .2037037           0   .2037037   .2037037

Following variable is string, not included:  
country  Following variable has no observation, not included:  
ovr_cap_string  cap_reg  sup_power  privatemonitoring  accounting_practices  ex
> tgov_index  gov_effectiveness  regulatory_quality  biii_index  
sum1.doc
dir : seeout

. 
. *For the 2013 cross-section*
. use "AA-workingdata.dta", replace 

. *Select observations from the 2008 model
. reg bii_index Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_b
> in Lsovrating_spw_same Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcp
> i Lcbiw Lbankcon1 Limf_iiiyr ib3.region if net_bcbs==0 & year==2013, robust  
>  

Linear regression                               Number of obs     =         65
                                                F(17, 47)         =       8.97
                                                Prob > F          =     0.0000
                                                R-squared         =     0.4869
                                                Root MSE          =     2.6064

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_bin |   .1606321   .0903294     1.78   0.082    -.0210872 
>    .3423513
 Lsendingabroad_wght_bin |   .2004881   .1657658     1.21   0.233    -.1329897 
>    .5339658
        Lnetwork_spw_bin |   .2791164   .1666023     1.68   0.101    -.0560441 
>    .6142769
     Lsovrating_spw_same |   .2781824   .1270017     2.19   0.033      .022688 
>    .5336768
        Ltradebin30_wght |  -.2087761   .8548168    -0.24   0.808    -1.928446 
>    1.510893
            Lprivcredit1 |   .0164808    .015942     1.03   0.307    -.0155904 
>    .0485519
            Lfdi_in_gdp1 |  -.0361996    .046604    -0.78   0.441    -.1299548 
>    .0575557
                 Lpolity |  -.0182566   .0767327    -0.24   0.813    -.1726228 
>    .1361096
                    Lcpi |  -.0060814     .03303    -0.18   0.855    -.0725293 
>    .0603665
                   Lcbiw |   .0129837   .0299732     0.43   0.667    -.0473146 
>     .073282
               Lbankcon1 |   .0056409   .0214689     0.26   0.794    -.0375489 
>    .0488307
              Limf_iiiyr |   .3355585   .7630451     0.44   0.662     -1.19949 
>    1.870607
                         |
                  region |
                    EAP  |    .916452   2.036472     0.45   0.655    -3.180402 
>    5.013306
                    ECA  |    .670793   2.084498     0.32   0.749    -3.522677 
>    4.864263
                   MENA  |    1.56347   1.957398     0.80   0.428    -2.374307 
>    5.501247
                     SA  |   2.454672    2.10164     1.17   0.249    -1.773283 
>    6.682626
                    SSA  |   1.100865   1.555761     0.71   0.483    -2.028922 
>    4.230652
                         |
                   _cons |  -.6386252   7.064297    -0.09   0.928    -14.85016 
>    13.57291
-------------------------------------------------------------------------------
-----------

. keep if e(sample)
(2,798 observations deleted)

. drop rf07* st07* sov07* net07* trade07* rfnB* stnB* sovnB* netnB* tradenB* rf
> 12* st12* sov12* net12* trade12* rf12nB* st12nB* sov12nB* net12nB* trade12nB*

. *Summarize variables from 2013 cross-section
. outreg2 using sum1.doc, sum(log) fmt(fc) label keep(bii_index Lreceiveforeign
> _wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin ///
>                 Lsovrating_spw_same Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp
> 1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiyr) eqkeep(mean sd min max N) ///
>                 sortvar(bii_index Lreceiveforeign_wght_bin Lsendingabroad_wgh
> t_bin Lnetwork_spw_bin ///
>                 Lsovrating_spw_same Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp
> 1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiyr)         

    Variable |        Obs        Mean    Std. Dev.       Min        Max
-------------+---------------------------------------------------------
        year |         65        2013           0       2013       2013
         iso |         65    428.6615    241.8537          8        894
    bank_abr |         64     .515625    .5037065          0          1
     bankcon |         53     72.1069     17.7048   26.88748        100
      fbanks |         53    51.01887    27.13109          2        100
-------------+---------------------------------------------------------
    net_bcbs |         65           0           0          0          0
          eu |         65           0           0          0          0
  privcredit |         61    44.49079    29.65169   5.710915   154.4076
gdp_pc_const |         64     6294.44    11959.28   264.8283   66511.86
   gdp_const |         64    5.93e+10    7.57e+10   8.32e+08   3.38e+11
-------------+---------------------------------------------------------
  fdi_in_gdp |         65    4.459612    5.870789  -1.334881   43.32883
fitch_rating |         38    11.44737    3.710448          1         18
     reg_eap |         65    .1076923    .3124038          0          1
     reg_eca |         65    .1384615    .3480716          0          1
     reg_lac |         65    .2461538    .4341216          0          1
-------------+---------------------------------------------------------
    reg_mena |         65    .1846154    .3910046          0          1
      reg_na |         65           0           0          0          0
      reg_sa |         65    .0769231    .2685431          0          1
     reg_ssa |         65    .2461538    .4341216          0          1
   marketcap |         18    60.30595    33.46973   15.65348   154.7544
-------------+---------------------------------------------------------
   fatf_list |         65    .1076923    .3124038          0          1
  population |         65    2.50e+07    3.95e+07     621207   1.81e+08
     polity2 |         65    4.184615    5.838697        -10         10
         cpi |         65    60.70769    14.07982         14         81
    latejoin |         65           0           0          0          0
-------------+---------------------------------------------------------
latejoin_neu |         65           0           0          0          0
        eccu |         65           0           0          0          0
        wamu |         65           0           0          0          0
privcredit~g |         62    21.88333    29.85876          0        100
   sup_banks |         58    5.548444    5.180297   .4454545   25.26316
-------------+---------------------------------------------------------
brss_govba~i |         57    16.52775     21.5122          0         90
  brss_car_i |         43    .1151535    .0721697          0       .504
 brss_crar_i |         57    .1683772    .0571449      .0175        .36
         imf |         65    .2153846    .4142881          0          1
   imf_iiiyr |         65    .3846154    .4902903          0          1
-------------+---------------------------------------------------------
 gdp_pc_thou |         64     6.29444    11.95928   .2648283   66.51186
gdp_pc_iii~i |         64    6.205062    11.95266   .2617764   66.41135
    ptfl_gdp |         41    .4808648      1.1835  -.8654817   5.920051
       legor |         63    1.888889     1.04898          0          4
   imf_ofc_i |         61    .1639344    .3732884          0          1
-------------+---------------------------------------------------------
   doi_ecr_i |         61     4.52459    3.101648          0          8
  bankconavg |         56     73.4743    17.61287   28.56016        100
      region |         65    3.723077    1.672458          1          6
  bii_sa_imp |         65    .5384615    .5023981          0          1
bii_firb_imp |         65    .1384615    .3480716          0          1
-------------+---------------------------------------------------------
bii_airb_imp |         65    .1076923    .3124038          0          1
 bii_bia_imp |         65    .4923077    .5038315          0          1
 bii_tsa_imp |         65    .3846154    .4902903          0          1
 bii_ama_imp |         65    .0923077    .2917125          0          1
 bii_smm_imp |         65    .3692308    .4863522          0          1
-------------+---------------------------------------------------------
  bii_im_imp |         65    .1230769    .3310821          0          1
bii_~rii_imp |         65    .4307692    .4990375          0          1
bii_~iii_imp |         65    .4307692    .4990375          0          1
   bii_index |         65    3.107692    3.118108          0         10
   bii_adopt |         65    .6615385    .4768688          0          1
-------------+---------------------------------------------------------
  bii_adopt2 |         65    .5538462    .5009606          0          1
  bii_adopt5 |         65    .3846154    .4902903          0          1
 bii_adopt10 |         65    .0307692    .1740358          0          1
     bii_add |         65    .4307692    1.368955          0          7
    smallpop |         65           0           0          0          0
-------------+---------------------------------------------------------
 irt_mean_rs |         65       .9762    .7875714          0      2.591
sendingabr~n |         65     2.25525    2.950551          0         10
sendingabr~d |         65    2.132463    2.898178          0         10
receivefor~n |         65    6.184342    3.402873          0         10
receivefor~d |         65    6.064362    3.461916          0         10
-------------+---------------------------------------------------------
sendi~n_nors |         65    9.153846    14.09702          0         54
sendi~d_nors |         65        11.2    17.02682          0         68
recei~n_nors |         65    33.44615    27.70832          0        105
recei~d_nors |         65    47.23077    41.55447          0        193
sendin~n_irt |         65     .678396    .7818044          0      2.571
-------------+---------------------------------------------------------
sendin~d_irt |         65    .6571011    .7694653          0      2.571
receiv~n_irt |         65    1.635011    .8670372          0      2.616
receiv~d_irt |         65    1.615329    .8770451          0      2.616
sovrating~at |         65    3.037794    2.832231          0   9.051282
sovrating_~n |         65    2.881134    2.950561          0   9.421053
-------------+---------------------------------------------------------
sovrating_~e |         65    2.580132    3.316534          0         10
sovra~t_nors |         65    16421.15    15442.11          0      47658
sovra~n_nors |         65    107.3077    109.8813          0        301
sovra~e_nors |         65    18.13846    24.23316          0        108
sovrat~t_irt |         65    .8538732    .7717765          0   2.321494
-------------+---------------------------------------------------------
sovrat~n_irt |         65    .8175697    .7902002          0   2.389105
sovrat~e_irt |         65    .7394978     .870629          0      2.645
netw~n_nobcg |         65    3.209345    2.489189          0   7.272727
netwo~n_wbcg |         65    3.441789    2.526613          0   7.272727
net~n_rcgbcg |         65    3.918019    2.353474          0         10
-------------+---------------------------------------------------------
ne~obcg_nors |         65    80.13846    56.81381          0        184
ne~wbcg_nors |         65    97.98462    75.72019          0        273
ne~gbcg_nors |         65    107.6923    74.48992          0        273
netw~d_nobcg |         65    3.237718    2.550283          0   7.607143
netwo~d_wbcg |         65    3.458152    2.581088          0   7.425532
-------------+---------------------------------------------------------
net~d_rcgbcg |         65    4.098681    2.420681          0         10
net~obcg_irt |         65    .9009732    .6620596          0   1.994773
net~wbcg_irt |         65    .9595374    .6700423          0   1.994773
net~gbcg_irt |         65    1.090319     .604851          0   2.596895
totaltrad~ht |         65     8.12048    1.053709    4.89621   9.791372
-------------+---------------------------------------------------------
lgtotaltr~ht |         65    6.730538    .8087883   5.163816   8.986306
tradetogd~ht |         65     8.12048    1.053709    4.89621   9.791372
tradebin10~t |         65    8.032636    .9616453   5.615385   9.933333
tradebin20~t |         65    7.709578    .7832941       5.75       9.25
tradebin3~ht |         65    7.312958    .6418725   5.822222   8.780488
-------------+---------------------------------------------------------
tradebin40~t |         65    7.030295    .5434365   5.839286     8.3125
totaltrad~rt |         65    2.107816     .248164   1.523337   2.529867
lgtotaltr~rt |         65    1.793421    .1930823   1.409882   2.360634
tradetogd~rt |         65    2.107816     .248164   1.523337   2.529867
tradebin3~rt |         65      1.9325    .1509634   1.569524   2.271073
-------------+---------------------------------------------------------
bii_index_~r |         65    3.107692    3.118108          0         10
     imputed |         65           0           0          0          0
gdp_pc_thou1 |         64     6.29444    11.95928   .2648283   66.51186
      lgdppc |         64    1.347925    .9830845   .1214948   4.210292
  gdp_const1 |         64    5.93e+10    7.57e+10   8.32e+08   3.38e+11
-------------+---------------------------------------------------------
        lgdp |         64    23.90015    1.487646   20.53988   26.54588
 fdi_in_gdp1 |         65    4.489509     5.84494          0   43.32883
 privcredit1 |         65    45.72537    31.01858   5.710915   154.4076
   ptfl_gdp1 |         60     .673239    2.460598  -.8654817   17.46118
ptfl_gdp_sq1 |         60    6.406884    39.54579          0   304.8929
-------------+---------------------------------------------------------
    bankcon1 |         65    75.02157    19.09123   26.88748        100
gov_effect~1 |         61   -.1004451    .6462577  -1.147789    1.84117
regulatory~1 |         61   -.0424516    .6215323   -1.20637   1.601144
ovr_cap_st~1 |         61    4.983607    1.586314          1          7
    cap_reg1 |         61    7.409836    1.667104          3         10
-------------+---------------------------------------------------------
accounting~1 |         57    .7719298    .4233178          0          1
  sup_power1 |         61    11.18409    2.199318          6         14
privatemon~1 |         60    7.938889    1.560448          4         11
extgov_ind~1 |         42    14.35714    2.407523          8         18
network_sp~n |         65    3.441789    2.526613          0   7.272727
-------------+---------------------------------------------------------
network_sp~d |         65    3.458152    2.581088          0   7.425532
Lreceivefo~n |         65    6.132741    3.366448          0         10
Lsendingab~n |         65    1.893883    2.724374          0         10
Lnetwork_s~n |         65    3.269295    2.539149          0   7.333333
Lsovrating~e |         65     2.28347    3.171898          0         10
-------------+---------------------------------------------------------
Ltradebin~ht |         65    7.119324    .6896153        5.5      8.875
Lprivcredit1 |         65    44.20546    30.31476   5.134215    148.263
Lfdi_in_gdp1 |         65    5.264187    6.528861          0   37.73236
     Lpolity |         65    4.061538    5.792983        -10         10
        Lcpi |         65    60.35385    13.99602         15         81
-------------+---------------------------------------------------------
       Lcbiw |         65    56.60729    16.16269   14.92171      86.65
   Lbankcon1 |         65    74.32622    18.82793   26.99664        100
  Limf_iiiyr |         65    .3846154    .4902903          0          1
Lreceivefo~d |         65    6.008432    3.421436          0         10
Lsendingab~d |         65    1.810612    2.713311          0         10
-------------+---------------------------------------------------------
Lnetwork_s~d |         65    3.288765     2.59253          0   7.333333
Lsovratin~at |         65    2.808216    2.722105          0   9.065342
Ltradetogd~t |         65    7.919296    1.161271   4.588221   9.817995
Lbrss_govb~i |         57    16.52775     21.5122          0         90
Lregulator~1 |         61   -.0424516    .6215323   -1.20637   1.601144
-------------+---------------------------------------------------------
  Lsup_banks |         58    5.548444    5.180297   .4454545   25.26316
 Lsup_power1 |         61    11.18409    2.199318          6         14
Lovr_cap_s~1 |         61    4.983607    1.586314          1          7
Laccountin~1 |         57    .7719298    .4233178          0          1
Lprivatemo~1 |         60    7.938889    1.560448          4         11
-------------+---------------------------------------------------------
     Llgdppc |         64    1.328227    .9844659   .1162807   4.214929
Lreceivefo~t |         65    1.619409    .8579123          0      2.631
Lsendingab~t |         65    .5654453    .7257016          0      2.559
Lne~obcg_irt |         65    .8289391    .6578438          0   2.008286
Lsovratin~rt |         65    .6552579    .8433202          0      2.604
-------------+---------------------------------------------------------
Ltradebin~rt |         65    1.894334    .1624023     1.5035   2.326375
Lne~wbcg_irt |         65    .9142325    .6684685          0   2.008286

Following variable is string, not included:  
country  Following variable has no observation, not included:  
fincrisis  cbiu  cbiw  ovr_cap_string  cap_reg  sup_power  privatemonitoring  a
> ccounting_practices  extgov_index  gov_effectiveness  regulatory_quality  bii
> i_index  
sum1.doc
dir : seeout

. 
. 
. *** ============================================================
. ** Main analysis
. 
. **Table 2: 2008 cross-section
. *Load data
. use "AA-workingdata.dta", replace

. *Keep only observations outside the Basel Committee in the 2008 cross-section
. keep if net_bcbs==0 & year==2008
(2,718 observations deleted)

. *Spatial lags individually: receiving foreign banks
. reg bii_index Lreceiveforeign_wght_bin Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi
>  Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      29.31
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6424
                                                Root MSE          =     2.6448

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_bin |   .5173839   .2052751     2.52   0.014     .1090262 
>    .9257415
            Lprivcredit1 |   .0209384   .0077134     2.71   0.008     .0055939 
>    .0362828
            Lfdi_in_gdp1 |   .0076147   .0444072     0.17   0.864    -.0807255 
>    .0959548
                 Lpolity |   .0490142   .0620901     0.79   0.432    -.0745027 
>    .1725311
                    Lcpi |  -.0524292   .0172528    -3.04   0.003    -.0867506 
>   -.0181078
                   Lcbiw |   .0274763   .0149611     1.84   0.070    -.0022862 
>    .0572388
               Lbankcon1 |   .0335915   .0147717     2.27   0.026      .004206 
>    .0629771
              Limf_iiiyr |  -.9093126   .8008299    -1.14   0.259    -2.502418 
>    .6837932
                         |
                  region |
                    EAP  |    1.91604   .9449351     2.03   0.046     .0362635 
>    3.795817
                    ECA  |   3.524968   1.081511     3.26   0.002     1.373499 
>    5.676437
                   MENA  |   2.163087    1.29491     1.67   0.099    -.4129012 
>    4.739075
                     SA  |   4.084305   1.406926     2.90   0.005     1.285482 
>    6.883129
                    SSA  |   1.234284   .7314994     1.69   0.095    -.2209013 
>    2.689469
                         |
                   _cons |  -1.887759    2.49648    -0.76   0.452    -6.854053 
>    3.078534
-------------------------------------------------------------------------------
-----------

. outreg2 using main2008.doc, replace dec(3) sdec(3) ctitle(" ") label sortvar(
> Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_
> spw_same  Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbank
> con1 Limf_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2008.doc
dir : seeout

. *Spatial lags individually: banks abroad
. reg bii_index Lsendingabroad_wght_bin Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi 
> Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      27.34
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6393
                                                Root MSE          =     2.6563

-------------------------------------------------------------------------------
----------
                        |               Robust
              bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf.
>  Interval]
------------------------+------------------------------------------------------
----------
Lsendingabroad_wght_bin |   .5545873   .2547647     2.18   0.032     .0477791  
>   1.061395
           Lprivcredit1 |   .0199968   .0093306     2.14   0.035     .0014353  
>   .0385584
           Lfdi_in_gdp1 |   .0151883   .0407687     0.37   0.710    -.0659135  
>   .0962902
                Lpolity |    .063399   .0656102     0.97   0.337    -.0671206  
>   .1939186
                   Lcpi |  -.0525146   .0169504    -3.10   0.003    -.0862343  
>  -.0187948
                  Lcbiw |     .02297   .0140557     1.63   0.106    -.0049914  
>   .0509313
              Lbankcon1 |   .0311766   .0157868     1.97   0.052    -.0002284  
>   .0625815
             Limf_iiiyr |   -.768705   .8303377    -0.93   0.357    -2.420511  
>   .8831011
                        |
                 region |
                   EAP  |   1.197752   .9650193     1.24   0.218    -.7219788  
>   3.117483
                   ECA  |   3.232538   1.034964     3.12   0.002     1.173666  
>   5.291411
                  MENA  |   .9068565   1.419712     0.64   0.525    -1.917403  
>   3.731116
                    SA  |   3.460461   1.380635     2.51   0.014     .7139379  
>   6.206985
                   SSA  |   .3849808   .7817037     0.49   0.624    -1.170077  
>   1.940038
                        |
                  _cons |  -.2697905   2.285378    -0.12   0.906    -4.816135  
>   4.276554
-------------------------------------------------------------------------------
----------

. outreg2 using main2008.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceive
> foreign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same
>   Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Lim
> f_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2008.doc
dir : seeout

. *Spatial lags individually: network membership
. reg bii_index Lnetwork_spw_bin Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw L
> bankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      37.54
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6517
                                                Root MSE          =     2.6103

-------------------------------------------------------------------------------
---
                 |               Robust
       bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
Lnetwork_spw_bin |    1.11354   .4003461     2.78   0.007     .3171244    1.909
> 956
    Lprivcredit1 |   .0262505   .0081318     3.23   0.002     .0100737    .0424
> 273
    Lfdi_in_gdp1 |  -.0110993   .0414428    -0.27   0.790    -.0935422    .0713
> 436
         Lpolity |   .0222079   .0643413     0.35   0.731    -.1057874    .1502
> 033
            Lcpi |  -.0724929   .0170491    -4.25   0.000    -.1064089   -.0385
> 769
           Lcbiw |   .0209668   .0138639     1.51   0.134    -.0066129    .0485
> 465
       Lbankcon1 |   .0298717   .0142869     2.09   0.040     .0014504     .058
> 293
      Limf_iiiyr |  -.8812144   .8063755    -1.09   0.278    -2.485352    .7229
> 233
                 |
          region |
            EAP  |   .5581459   1.053816     0.53   0.598    -1.538231    2.654
> 522
            ECA  |    3.13979   1.038609     3.02   0.003     1.073666    5.205
> 913
           MENA  |   .8279071   1.339909     0.62   0.538    -1.837598    3.493
> 413
             SA  |   2.818486   1.563018     1.80   0.075    -.2908552    5.927
> 827
            SSA  |   1.334184   .7724503     1.73   0.088    -.2024655    2.870
> 834
                 |
           _cons |   .5731923   2.239317     0.26   0.799    -3.881522    5.027
> 906
-------------------------------------------------------------------------------
---

. outreg2 using main2008.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceive
> foreign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same
>   Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Lim
> f_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2008.doc
dir : seeout

. *Spatial lags individually: sovereign credit rating
. reg bii_index Lsovrating_spw_same Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbi
> w Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      31.42
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6319
                                                Root MSE          =     2.6832

-------------------------------------------------------------------------------
------
                    |               Robust
          bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Int
> erval]
--------------------+----------------------------------------------------------
------
Lsovrating_spw_same |   .4182048   .2436486     1.72   0.090    -.0664898    .9
> 028995
       Lprivcredit1 |   .0175346   .0098585     1.78   0.079    -.0020771    .0
> 371464
       Lfdi_in_gdp1 |   .0246977   .0440605     0.56   0.577    -.0629526    .1
> 123481
            Lpolity |   .0766751   .0622247     1.23   0.221    -.0471096    .2
> 004599
               Lcpi |  -.0425994   .0193709    -2.20   0.031    -.0811342   -.0
> 040645
              Lcbiw |   .0182534   .0150524     1.21   0.229    -.0116906    .0
> 481974
          Lbankcon1 |   .0255531    .014573     1.75   0.083    -.0034372    .0
> 545434
         Limf_iiiyr |  -.8343175   .8410451    -0.99   0.324    -2.507424    .8
> 387892
                    |
             region |
               EAP  |   1.640894   1.006053     1.63   0.107     -.360466    3.
> 642253
               ECA  |   3.561698   1.098377     3.24   0.002     1.376675     5
> .74672
              MENA  |   1.445268   1.391159     1.04   0.302    -1.322191    4.
> 212727
                SA  |   3.680339   1.459287     2.52   0.014     .7773516    6.
> 583326
               SSA  |   .6792632   .8041054     0.84   0.401    -.9203585    2.
> 278885
                    |
              _cons |  -.4935021   2.254803    -0.22   0.827    -4.979024    3.
> 992019
-------------------------------------------------------------------------------
------

. outreg2 using main2008.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceive
> foreign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same
>   Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Lim
> f_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2008.doc
dir : seeout

. *Spatial lags individually: trade "placebo"
. reg bii_index Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw L
> bankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      28.65
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6216
                                                Root MSE          =     2.7207

-------------------------------------------------------------------------------
---
                 |               Robust
       bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
Ltradebin30_wght |  -.6978902   1.332487    -0.52   0.602    -3.348632    1.952
> 852
    Lprivcredit1 |   .0211199   .0093267     2.26   0.026     .0025661    .0396
> 737
    Lfdi_in_gdp1 |   .0086908   .0448885     0.19   0.847    -.0806069    .0979
> 884
         Lpolity |   .0620074   .0644129     0.96   0.339    -.0661303    .1901
> 452
            Lcpi |  -.0628357   .0172852    -3.64   0.000    -.0972215   -.0284
> 498
           Lcbiw |    .022567   .0149121     1.51   0.134    -.0070979     .052
> 232
       Lbankcon1 |    .022866   .0148729     1.54   0.128    -.0067208    .0524
> 529
      Limf_iiiyr |  -1.156764   .8448576    -1.37   0.175    -2.837455     .523
> 927
                 |
          region |
            EAP  |    1.84296   1.150754     1.60   0.113    -.4462566    4.132
> 177
            ECA  |   4.229176   1.462211     2.89   0.005     1.320373    7.137
> 979
           MENA  |   1.382242   1.348784     1.02   0.308    -1.300919    4.065
> 403
             SA  |   3.782682   1.492218     2.53   0.013     .8141858    6.751
> 178
            SSA  |   .8054422   .7738179     1.04   0.301    -.7339282    2.344
> 813
                 |
           _cons |   2.881098   3.788716     0.76   0.449    -4.655864    10.41
> 806
-------------------------------------------------------------------------------
---

. outreg2 using main2008.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceive
> foreign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same
>   Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Lim
> f_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2008.doc
dir : seeout

. *All spatial lags
. reg bii_index Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_b
> in Lsovrating_spw_same Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1
>  Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(16, 79)         =      40.99
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6934
                                                Root MSE          =     2.4951

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_bin |   .3518068   .2120053     1.66   0.101    -.0701792 
>    .7737928
 Lsendingabroad_wght_bin |   .5416766   .2243252     2.41   0.018     .0951686 
>    .9881847
        Lnetwork_spw_bin |   .9775783   .4151514     2.35   0.021     .1512402 
>    1.803916
     Lsovrating_spw_same |   .3959412   .2046071     1.94   0.057     -.011319 
>    .8032014
            Lprivcredit1 |   .0171448   .0083511     2.05   0.043     .0005222 
>    .0337673
            Lfdi_in_gdp1 |   .0094777   .0397117     0.24   0.812    -.0695664 
>    .0885218
                 Lpolity |   .0273414   .0597886     0.46   0.649    -.0916649 
>    .1463477
                    Lcpi |  -.0414225   .0185723    -2.23   0.029    -.0783897 
>   -.0044553
                   Lcbiw |   .0188166   .0138265     1.36   0.177    -.0087043 
>    .0463375
               Lbankcon1 |   .0475615   .0154453     3.08   0.003     .0168183 
>    .0783046
              Limf_iiiyr |  -.3335785    .781677    -0.43   0.671    -1.889468 
>    1.222311
                         |
                  region |
                    EAP  |   .5126072   .8545465     0.60   0.550    -1.188325 
>     2.21354
                    ECA  |   2.449038   1.040245     2.35   0.021     .3784814 
>    4.519595
                   MENA  |   1.302352   1.259996     1.03   0.304    -1.205607 
>    3.810311
                     SA  |   3.168954   1.280549     2.47   0.015     .6200852 
>    5.717823
                    SSA  |   1.265762   .7892363     1.60   0.113    -.3051737 
>    2.836697
                         |
                   _cons |  -3.933028   2.573782    -1.53   0.130    -9.056012 
>    1.189957
-------------------------------------------------------------------------------
-----------

. outreg2 using main2008.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceive
> foreign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same
>   Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Lim
> f_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2008.doc
dir : seeout

. *All spatial lags + trade "placebo"
. reg bii_index Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_b
> in Lsovrating_spw_same Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcp
> i Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(17, 78)         =      37.22
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6987
                                                Root MSE          =     2.4891

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_bin |   .3304814   .2088661     1.58   0.118     -.085339 
>    .7463019
 Lsendingabroad_wght_bin |   .5717876   .2248618     2.54   0.013     .1241221 
>    1.019453
        Lnetwork_spw_bin |   1.085145   .4270872     2.54   0.013     .2348793 
>     1.93541
     Lsovrating_spw_same |   .3622793   .2140157     1.69   0.094    -.0637932 
>    .7883517
        Ltradebin30_wght |  -1.288533   1.234201    -1.04   0.300    -3.745638 
>    1.168571
            Lprivcredit1 |   .0149546   .0088062     1.70   0.093    -.0025773 
>    .0324864
            Lfdi_in_gdp1 |    .004703   .0422679     0.11   0.912    -.0794459 
>    .0888518
                 Lpolity |   .0182887   .0566252     0.32   0.748    -.0944435 
>    .1310208
                    Lcpi |  -.0487088   .0185306    -2.63   0.010    -.0856005 
>   -.0118172
                   Lcbiw |   .0173221   .0140638     1.23   0.222    -.0106768 
>     .045321
               Lbankcon1 |   .0484777   .0155175     3.12   0.003     .0175848 
>    .0793706
              Limf_iiiyr |  -.5270936   .7989039    -0.66   0.511    -2.117589 
>    1.063402
                         |
                  region |
                    EAP  |   .7970867   .9331282     0.85   0.396    -1.060629 
>    2.654802
                    ECA  |   3.325151    1.41002     2.36   0.021     .5180155 
>    6.132286
                   MENA  |   1.397715   1.198848     1.17   0.247    -.9890079 
>    3.784439
                     SA  |   3.386136   1.216178     2.78   0.007     .9649119 
>    5.807359
                    SSA  |   1.463863   .8194481     1.79   0.078    -.1675333 
>    3.095259
                         |
                   _cons |  -.2858721   3.842768    -0.07   0.941    -7.936236 
>    7.364492
-------------------------------------------------------------------------------
-----------

. outreg2 using main2008.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceive
> foreign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same
>   Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Lim
> f_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2008.doc
dir : seeout

. 
. 
. **Table 2: 2013 cross-section
. *Load data
. use "AA-workingdata.dta", replace

. *Keep only obesrvations outside the Basel Committee in the 2008 cross-section
. keep if net_bcbs==0 & year==2013
(2,749 observations deleted)

. *Spatial lags individually: receiving foreign banks
. reg bii_index Lreceiveforeign_wght_bin Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi
>  Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       6.53
                                                Prob > F          =     0.0000
                                                R-squared         =     0.3910
                                                Root MSE          =     2.7258

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_bin |   .3249177   .0869021     3.74   0.000     .1504543 
>     .499381
            Lprivcredit1 |   .0334634    .015228     2.20   0.033     .0028918 
>    .0640349
            Lfdi_in_gdp1 |  -.0391688   .0373143    -1.05   0.299    -.1140804 
>    .0357427
                 Lpolity |  -.0495853   .0832708    -0.60   0.554    -.2167584 
>    .1175878
                    Lcpi |  -.0287285   .0316645    -0.91   0.369    -.0922977 
>    .0348406
                   Lcbiw |   .0402751   .0285246     1.41   0.164    -.0169905 
>    .0975406
               Lbankcon1 |   .0113721   .0210538     0.54   0.591    -.0308952 
>    .0536393
              Limf_iiiyr |    .427533   .8019364     0.53   0.596    -1.182422 
>    2.037488
                         |
                  region |
                    EAP  |   1.520336   1.267338     1.20   0.236    -1.023951 
>    4.064623
                    ECA  |    .370516   1.535752     0.24   0.810    -2.712634 
>    3.453666
                   MENA  |    1.42315   1.478995     0.96   0.340    -1.546057 
>    4.392356
                     SA  |   2.557056   1.740841     1.47   0.148    -.9378274 
>     6.05194
                    SSA  |   .0886999   1.037251     0.09   0.932    -1.993669 
>    2.171068
                         |
                   _cons |  -2.208585   3.239842    -0.68   0.499     -8.71284 
>    4.295669
-------------------------------------------------------------------------------
-----------

. outreg2 using main2013.doc, replace dec(3) sdec(3) ctitle(" ") label sortvar(
> Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_
> spw_same  Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbank
> con1 Limf_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2013.doc
dir : seeout

. *Spatial lags individually: banks abroad
. reg bii_index Lsendingabroad_wght_bin Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi 
> Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       5.03
                                                Prob > F          =     0.0000
                                                R-squared         =     0.3599
                                                Root MSE          =     2.7945

-------------------------------------------------------------------------------
----------
                        |               Robust
              bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf.
>  Interval]
------------------------+------------------------------------------------------
----------
Lsendingabroad_wght_bin |    .324006   .1966027     1.65   0.105    -.0706903  
>   .7187023
           Lprivcredit1 |   .0376871   .0154258     2.44   0.018     .0067185  
>   .0686556
           Lfdi_in_gdp1 |  -.0379077   .0415367    -0.91   0.366     -.121296  
>   .0454806
                Lpolity |   .0243967   .0796122     0.31   0.761    -.1354314  
>   .1842248
                   Lcpi |  -.0003646   .0322641    -0.01   0.991    -.0651375  
>   .0644083
                  Lcbiw |   .0273744   .0290006     0.94   0.350    -.0308466  
>   .0855955
              Lbankcon1 |   .0051459   .0191614     0.27   0.789    -.0333223  
>   .0436141
             Limf_iiiyr |   .3052285    .832741     0.37   0.715    -1.366569  
>   1.977026
                        |
                 region |
                   EAP  |    .751911   1.238918     0.61   0.547     -1.73532  
>   3.239142
                   ECA  |   1.416209   1.513417     0.94   0.354    -1.622103  
>    4.45452
                  MENA  |   .9868341   1.522533     0.65   0.520    -2.069778  
>   4.043446
                    SA  |   2.306204    1.60514     1.44   0.157    -.9162485  
>   5.528656
                   SSA  |   .4571549   1.047767     0.44   0.664    -1.646325  
>   2.560635
                        |
                  _cons |  -1.848087   3.251369    -0.57   0.572    -8.375482  
>   4.679308
-------------------------------------------------------------------------------
----------

. outreg2 using main2013.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceive
> foreign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same
>   Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Lim
> f_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2013.doc
dir : seeout

. *Spatial lags individually: network membership
. reg bii_index Lnetwork_spw_bin Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw L
> bankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       4.63
                                                Prob > F          =     0.0000
                                                R-squared         =     0.3681
                                                Root MSE          =     2.7765

-------------------------------------------------------------------------------
---
                 |               Robust
       bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
Lnetwork_spw_bin |   .4715362   .1759962     2.68   0.010     .1182092    .8248
> 633
    Lprivcredit1 |   .0353749   .0165285     2.14   0.037     .0021926    .0685
> 572
    Lfdi_in_gdp1 |  -.0624442   .0408933    -1.53   0.133    -.1445409    .0196
> 524
         Lpolity |  -.0002448   .0754195    -0.00   0.997    -.1516558    .1511
> 662
            Lcpi |  -.0264906    .032141    -0.82   0.414    -.0910164    .0380
> 352
           Lcbiw |   .0022797   .0322195     0.07   0.944    -.0624038    .0669
> 631
       Lbankcon1 |  -.0060732    .019884    -0.31   0.761     -.045992    .0338
> 455
      Limf_iiiyr |   .5601815   .8327192     0.67   0.504    -1.111572    2.231
> 935
                 |
          region |
            EAP  |   .3054912   1.409417     0.22   0.829    -2.524031    3.135
> 013
            ECA  |  -.1788637   1.437499    -0.12   0.901    -3.064764    2.707
> 036
           MENA  |   1.256492   1.370536     0.92   0.364    -1.494974    4.007
> 959
             SA  |   .9547807   1.635909     0.58   0.562    -2.329444    4.239
> 005
            SSA  |   1.242643   1.069357     1.16   0.251     -.904181    3.389
> 467
                 |
           _cons |   1.418333   3.375887     0.42   0.676    -5.359044     8.19
> 571
-------------------------------------------------------------------------------
---

. outreg2 using main2013.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceive
> foreign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same
>   Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Lim
> f_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2013.doc
dir : seeout

. *Spatial lags individually: sovereign credit rating
. reg bii_index Lsovrating_spw_same Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbi
> w Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       6.41
                                                Prob > F          =     0.0000
                                                R-squared         =     0.4023
                                                Root MSE          =     2.7005

-------------------------------------------------------------------------------
------
                    |               Robust
          bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Int
> erval]
--------------------+----------------------------------------------------------
------
Lsovrating_spw_same |   .3784292   .1302961     2.90   0.005     .1168489    .6
> 400094
       Lprivcredit1 |   .0215559   .0179178     1.20   0.235    -.0144155    .0
> 575274
       Lfdi_in_gdp1 |  -.0426844   .0417094    -1.02   0.311    -.1264195    .0
> 410507
            Lpolity |   .0178017   .0826693     0.22   0.830    -.1481638    .1
> 837672
               Lcpi |  -.0079104   .0312217    -0.25   0.801    -.0705905    .0
> 547697
              Lcbiw |   .0125833   .0289387     0.43   0.666    -.0455135    .0
> 706801
          Lbankcon1 |  -.0112282   .0200222    -0.56   0.577    -.0514244     .
> 028968
         Limf_iiiyr |   .4558379   .7555608     0.60   0.549    -1.061014    1.
> 972689
                    |
             region |
               EAP  |   1.683025     1.2749     1.32   0.193    -.8764444    4.
> 242494
               ECA  |   1.846733   1.374396     1.34   0.185    -.9124817    4.
> 605948
              MENA  |   2.428808   1.523193     1.59   0.117    -.6291295    5.
> 486745
                SA  |   3.278081   1.739469     1.88   0.065    -.2140491     6
> .77021
               SSA  |   .9395443   .9741735     0.96   0.339    -1.016191    2.
> 895279
                    |
              _cons |   .4986316   3.250739     0.15   0.879    -6.027499    7.
> 024763
-------------------------------------------------------------------------------
------

. outreg2 using main2013.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceive
> foreign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same
>   Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Lim
> f_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2013.doc
dir : seeout

. *Spatial lags individually: trade "placebo"
. reg bii_index Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw L
> bankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       5.26
                                                Prob > F          =     0.0000
                                                R-squared         =     0.3324
                                                Root MSE          =     2.8541

-------------------------------------------------------------------------------
---
                 |               Robust
       bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
Ltradebin30_wght |  -.9946063   .8781864    -1.13   0.263    -2.757639    .7684
> 264
    Lprivcredit1 |   .0376897   .0172025     2.19   0.033     .0031542    .0722
> 252
    Lfdi_in_gdp1 |  -.0600802   .0395875    -1.52   0.135    -.1395554    .0193
> 949
         Lpolity |   .0342258   .0863566     0.40   0.694    -.1391423    .2075
> 938
            Lcpi |  -.0369396   .0347418    -1.06   0.293    -.1066867    .0328
> 074
           Lcbiw |   .0250368   .0295487     0.85   0.401    -.0342847    .0843
> 583
       Lbankcon1 |   .0008311   .0227515     0.04   0.971    -.0448446    .0465
> 067
      Limf_iiiyr |   .1205112   .8275413     0.15   0.885    -1.540847     1.78
> 187
                 |
          region |
            EAP  |   2.651047   2.173057     1.22   0.228    -1.711547    7.013
> 641
            ECA  |   2.395107   2.103746     1.14   0.260    -1.828339    6.618
> 552
           MENA  |   2.523561   1.889805     1.34   0.188    -1.270381    6.317
> 504
             SA  |   3.802148    2.39424     1.59   0.118     -1.00449    8.608
> 786
            SSA  |   1.522172   1.493521     1.02   0.313    -1.476197    4.520
> 541
                 |
           _cons |    7.65368   7.013143     1.09   0.280    -6.425793    21.73
> 315
-------------------------------------------------------------------------------
---

. outreg2 using main2013.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceive
> foreign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same
>   Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Lim
> f_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2013.doc
dir : seeout

. *All spatial lags
. reg bii_index Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_b
> in Lsovrating_spw_same Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1
>  Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(16, 48)         =       8.92
                                                Prob > F          =     0.0000
                                                R-squared         =     0.4861
                                                Root MSE          =     2.5812

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_bin |   .1645958   .0881444     1.87   0.068    -.0126304 
>     .341822
 Lsendingabroad_wght_bin |   .2067533   .1645685     1.26   0.215    -.1241338 
>    .5376404
        Lnetwork_spw_bin |   .2934928   .1737315     1.69   0.098    -.0558178 
>    .6428035
     Lsovrating_spw_same |   .2783174   .1256395     2.22   0.032     .0257023 
>    .5309325
            Lprivcredit1 |   .0168792   .0150121     1.12   0.266    -.0133046 
>     .047063
            Lfdi_in_gdp1 |  -.0345476   .0448145    -0.77   0.445    -.1246531 
>     .055558
                 Lpolity |  -.0229856   .0712486    -0.32   0.748    -.1662405 
>    .1202694
                    Lcpi |  -.0028568   .0289199    -0.10   0.922    -.0610041 
>    .0552905
                   Lcbiw |   .0123742   .0311483     0.40   0.693    -.0502537 
>    .0750021
               Lbankcon1 |   .0047548   .0196044     0.24   0.809    -.0346624 
>     .044172
              Limf_iiiyr |   .4062695   .7620922     0.53   0.596    -1.126019 
>    1.938559
                         |
                  region |
                    EAP  |   .6063669   1.100675     0.55   0.584    -1.606689 
>    2.819423
                    ECA  |   .3867561    1.27711     0.30   0.763    -2.181046 
>    2.954558
                   MENA  |   1.360567     1.4746     0.92   0.361    -1.604315 
>    4.325449
                     SA  |   2.121107    1.31099     1.62   0.112    -.5148154 
>    4.757029
                    SSA  |   .9163577   1.064303     0.86   0.394    -1.223567 
>    3.056282
                         |
                   _cons |   -2.15575   3.026446    -0.71   0.480    -8.240828 
>    3.929327
-------------------------------------------------------------------------------
-----------

. outreg2 using main2013.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceive
> foreign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same
>   Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Lim
> f_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2013.doc
dir : seeout

. *All spatial lags + trade "placebo"
. reg bii_index Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_b
> in Lsovrating_spw_same Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcp
> i Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(17, 47)         =       8.97
                                                Prob > F          =     0.0000
                                                R-squared         =     0.4869
                                                Root MSE          =     2.6064

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_bin |   .1606321   .0903294     1.78   0.082    -.0210872 
>    .3423513
 Lsendingabroad_wght_bin |   .2004881   .1657658     1.21   0.233    -.1329897 
>    .5339658
        Lnetwork_spw_bin |   .2791164   .1666023     1.68   0.101    -.0560441 
>    .6142769
     Lsovrating_spw_same |   .2781824   .1270017     2.19   0.033      .022688 
>    .5336768
        Ltradebin30_wght |  -.2087761   .8548168    -0.24   0.808    -1.928446 
>    1.510893
            Lprivcredit1 |   .0164808    .015942     1.03   0.307    -.0155904 
>    .0485519
            Lfdi_in_gdp1 |  -.0361996    .046604    -0.78   0.441    -.1299548 
>    .0575557
                 Lpolity |  -.0182566   .0767327    -0.24   0.813    -.1726228 
>    .1361096
                    Lcpi |  -.0060814     .03303    -0.18   0.855    -.0725293 
>    .0603665
                   Lcbiw |   .0129837   .0299732     0.43   0.667    -.0473146 
>     .073282
               Lbankcon1 |   .0056409   .0214689     0.26   0.794    -.0375489 
>    .0488307
              Limf_iiiyr |   .3355585   .7630451     0.44   0.662     -1.19949 
>    1.870607
                         |
                  region |
                    EAP  |    .916452   2.036472     0.45   0.655    -3.180402 
>    5.013306
                    ECA  |    .670793   2.084498     0.32   0.749    -3.522677 
>    4.864263
                   MENA  |    1.56347   1.957398     0.80   0.428    -2.374307 
>    5.501247
                     SA  |   2.454672    2.10164     1.17   0.249    -1.773283 
>    6.682626
                    SSA  |   1.100865   1.555761     0.71   0.483    -2.028922 
>    4.230652
                         |
                   _cons |  -.6386252   7.064297    -0.09   0.928    -14.85016 
>    13.57291
-------------------------------------------------------------------------------
-----------

. outreg2 using main2013.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceive
> foreign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same
>   Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Lim
> f_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
main2013.doc
dir : seeout

.  
. *** ============================================================
. ** Appendix
. *** ============================================================
. 
. 
. 
. *** ============================================================
. *Table A1: Pattern of adoption of Basel II components in 2008
. use "AA-workingdata.dta", replace

. keep if year==2008 & net_bcbs==0
(2,718 observations deleted)

. 
. tab bii_index

   Basel II |
   adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |         50       46.30       46.30
          1 |          7        6.48       52.78
          2 |          6        5.56       58.33
          3 |          4        3.70       62.04
          4 |          3        2.78       64.81
          5 |          7        6.48       71.30
          6 |          2        1.85       73.15
          7 |          2        1.85       75.00
          8 |          1        0.93       75.93
          9 |          4        3.70       79.63
         10 |         22       20.37      100.00
------------+-----------------------------------
      Total |        108      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==1

-> tabulation of bii_sa_imp if bii_index==1 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2       28.57       28.57
          1 |          5       71.43      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_firb_imp if bii_index==1 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_airb_imp if bii_index==1 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_bia_imp if bii_index==1 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_tsa_imp if bii_index==1 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_ama_imp if bii_index==1 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_smm_imp if bii_index==1 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_im_imp if bii_index==1 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_pillarii_imp if bii_index==1 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_pillariii_imp if bii_index==1 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          5       71.43       71.43
          1 |          2       28.57      100.00
------------+-----------------------------------
      Total |          7      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==2

-> tabulation of bii_sa_imp if bii_index==2 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3       50.00       50.00
          1 |          3       50.00      100.00
------------+-----------------------------------
      Total |          6      100.00

-> tabulation of bii_firb_imp if bii_index==2 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          6      100.00      100.00
------------+-----------------------------------
      Total |          6      100.00

-> tabulation of bii_airb_imp if bii_index==2 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          6      100.00      100.00
------------+-----------------------------------
      Total |          6      100.00

-> tabulation of bii_bia_imp if bii_index==2 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3       50.00       50.00
          1 |          3       50.00      100.00
------------+-----------------------------------
      Total |          6      100.00

-> tabulation of bii_tsa_imp if bii_index==2 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          5       83.33       83.33
          1 |          1       16.67      100.00
------------+-----------------------------------
      Total |          6      100.00

-> tabulation of bii_ama_imp if bii_index==2 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          6      100.00      100.00
------------+-----------------------------------
      Total |          6      100.00

-> tabulation of bii_smm_imp if bii_index==2 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          5       83.33       83.33
          1 |          1       16.67      100.00
------------+-----------------------------------
      Total |          6      100.00

-> tabulation of bii_im_imp if bii_index==2 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          6      100.00      100.00
------------+-----------------------------------
      Total |          6      100.00

-> tabulation of bii_pillarii_imp if bii_index==2 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          5       83.33       83.33
          1 |          1       16.67      100.00
------------+-----------------------------------
      Total |          6      100.00

-> tabulation of bii_pillariii_imp if bii_index==2 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3       50.00       50.00
          1 |          3       50.00      100.00
------------+-----------------------------------
      Total |          6      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==3

-> tabulation of bii_sa_imp if bii_index==3 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_firb_imp if bii_index==3 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_airb_imp if bii_index==3 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_bia_imp if bii_index==3 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_tsa_imp if bii_index==3 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3       75.00       75.00
          1 |          1       25.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_ama_imp if bii_index==3 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_smm_imp if bii_index==3 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       25.00       25.00
          1 |          3       75.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_im_imp if bii_index==3 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_pillarii_imp if bii_index==3 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_pillariii_imp if bii_index==3 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==4

-> tabulation of bii_sa_imp if bii_index==4 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_firb_imp if bii_index==4 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_airb_imp if bii_index==4 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_bia_imp if bii_index==4 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       33.33       33.33
          1 |          2       66.67      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_tsa_imp if bii_index==4 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       33.33       33.33
          1 |          2       66.67      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_ama_imp if bii_index==4 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_smm_imp if bii_index==4 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       33.33       33.33
          1 |          2       66.67      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_im_imp if bii_index==4 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_pillarii_imp if bii_index==4 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2       66.67       66.67
          1 |          1       33.33      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_pillariii_imp if bii_index==4 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       33.33       33.33
          1 |          2       66.67      100.00
------------+-----------------------------------
      Total |          3      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==5

-> tabulation of bii_sa_imp if bii_index==5 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_firb_imp if bii_index==5 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          6       85.71       85.71
          1 |          1       14.29      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_airb_imp if bii_index==5 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_bia_imp if bii_index==5 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_tsa_imp if bii_index==5 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       14.29       14.29
          1 |          6       85.71      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_ama_imp if bii_index==5 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          6       85.71       85.71
          1 |          1       14.29      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_smm_imp if bii_index==5 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3       42.86       42.86
          1 |          4       57.14      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_im_imp if bii_index==5 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          5       71.43       71.43
          1 |          2       28.57      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_pillarii_imp if bii_index==5 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          5       71.43       71.43
          1 |          2       28.57      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_pillariii_imp if bii_index==5 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2       28.57       28.57
          1 |          5       71.43      100.00
------------+-----------------------------------
      Total |          7      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==6

-> tabulation of bii_sa_imp if bii_index==6 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          2      100.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_firb_imp if bii_index==6 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       50.00       50.00
          1 |          1       50.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_airb_imp if bii_index==6 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2      100.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_bia_imp if bii_index==6 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       50.00       50.00
          1 |          1       50.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_tsa_imp if bii_index==6 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          2      100.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_ama_imp if bii_index==6 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2      100.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_smm_imp if bii_index==6 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          2      100.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_im_imp if bii_index==6 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       50.00       50.00
          1 |          1       50.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_pillarii_imp if bii_index==6 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          2      100.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_pillariii_imp if bii_index==6 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       50.00       50.00
          1 |          1       50.00      100.00
------------+-----------------------------------
      Total |          2      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==7

-> tabulation of bii_sa_imp if bii_index==7 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          2      100.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_firb_imp if bii_index==7 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          2      100.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_airb_imp if bii_index==7 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       50.00       50.00
          1 |          1       50.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_bia_imp if bii_index==7 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          2      100.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_tsa_imp if bii_index==7 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       50.00       50.00
          1 |          1       50.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_ama_imp if bii_index==7 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2      100.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_smm_imp if bii_index==7 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          2      100.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_im_imp if bii_index==7 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       50.00       50.00
          1 |          1       50.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_pillarii_imp if bii_index==7 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       50.00       50.00
          1 |          1       50.00      100.00
------------+-----------------------------------
      Total |          2      100.00

-> tabulation of bii_pillariii_imp if bii_index==7 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          2      100.00      100.00
------------+-----------------------------------
      Total |          2      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==8

-> tabulation of bii_sa_imp if bii_index==8 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          1      100.00      100.00
------------+-----------------------------------
      Total |          1      100.00

-> tabulation of bii_firb_imp if bii_index==8 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          1      100.00      100.00
------------+-----------------------------------
      Total |          1      100.00

-> tabulation of bii_airb_imp if bii_index==8 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1      100.00      100.00
------------+-----------------------------------
      Total |          1      100.00

-> tabulation of bii_bia_imp if bii_index==8 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          1      100.00      100.00
------------+-----------------------------------
      Total |          1      100.00

-> tabulation of bii_tsa_imp if bii_index==8 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          1      100.00      100.00
------------+-----------------------------------
      Total |          1      100.00

-> tabulation of bii_ama_imp if bii_index==8 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1      100.00      100.00
------------+-----------------------------------
      Total |          1      100.00

-> tabulation of bii_smm_imp if bii_index==8 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          1      100.00      100.00
------------+-----------------------------------
      Total |          1      100.00

-> tabulation of bii_im_imp if bii_index==8 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          1      100.00      100.00
------------+-----------------------------------
      Total |          1      100.00

-> tabulation of bii_pillarii_imp if bii_index==8 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          1      100.00      100.00
------------+-----------------------------------
      Total |          1      100.00

-> tabulation of bii_pillariii_imp if bii_index==8 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          1      100.00      100.00
------------+-----------------------------------
      Total |          1      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==9

-> tabulation of bii_sa_imp if bii_index==9 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_firb_imp if bii_index==9 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_airb_imp if bii_index==9 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_bia_imp if bii_index==9 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       25.00       25.00
          1 |          3       75.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_tsa_imp if bii_index==9 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_ama_imp if bii_index==9 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2       50.00       50.00
          1 |          2       50.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_smm_imp if bii_index==9 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_im_imp if bii_index==9 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       25.00       25.00
          1 |          3       75.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_pillarii_imp if bii_index==9 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_pillariii_imp if bii_index==9 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

. 
. 
. *Table A2: Pattern of adoption of Basel II components in 2013
. use "AA-workingdata.dta", replace

. keep if year==2013 & net_bcbs==0
(2,749 observations deleted)

. 
. tab bii_index

   Basel II |
   adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |         25       32.89       32.89
          1 |          9       11.84       44.74
          2 |          7        9.21       53.95
          3 |          3        3.95       57.89
          4 |          4        5.26       63.16
          5 |          9       11.84       75.00
          6 |          7        9.21       84.21
          7 |          3        3.95       88.16
          8 |          3        3.95       92.11
          9 |          3        3.95       96.05
         10 |          3        3.95      100.00
------------+-----------------------------------
      Total |         76      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==1

-> tabulation of bii_sa_imp if bii_index==1 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          5       55.56       55.56
          1 |          4       44.44      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_firb_imp if bii_index==1 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          9      100.00      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_airb_imp if bii_index==1 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          9      100.00      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_bia_imp if bii_index==1 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7       77.78       77.78
          1 |          2       22.22      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_tsa_imp if bii_index==1 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7       77.78       77.78
          1 |          2       22.22      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_ama_imp if bii_index==1 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          9      100.00      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_smm_imp if bii_index==1 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          9      100.00      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_im_imp if bii_index==1 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          9      100.00      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_pillarii_imp if bii_index==1 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          8       88.89       88.89
          1 |          1       11.11      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_pillariii_imp if bii_index==1 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          9      100.00      100.00
------------+-----------------------------------
      Total |          9      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==2

-> tabulation of bii_sa_imp if bii_index==2 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3       42.86       42.86
          1 |          4       57.14      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_firb_imp if bii_index==2 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_airb_imp if bii_index==2 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_bia_imp if bii_index==2 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          4       57.14       57.14
          1 |          3       42.86      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_tsa_imp if bii_index==2 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_ama_imp if bii_index==2 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_smm_imp if bii_index==2 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_im_imp if bii_index==2 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_pillarii_imp if bii_index==2 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3       42.86       42.86
          1 |          4       57.14      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_pillariii_imp if bii_index==2 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          4       57.14       57.14
          1 |          3       42.86      100.00
------------+-----------------------------------
      Total |          7      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==3

-> tabulation of bii_sa_imp if bii_index==3 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       33.33       33.33
          1 |          2       66.67      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_firb_imp if bii_index==3 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_airb_imp if bii_index==3 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_bia_imp if bii_index==3 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       33.33       33.33
          1 |          2       66.67      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_tsa_imp if bii_index==3 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_ama_imp if bii_index==3 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_smm_imp if bii_index==3 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_im_imp if bii_index==3 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_pillarii_imp if bii_index==3 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       33.33       33.33
          1 |          2       66.67      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_pillariii_imp if bii_index==3 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==4

-> tabulation of bii_sa_imp if bii_index==4 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       25.00       25.00
          1 |          3       75.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_firb_imp if bii_index==4 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_airb_imp if bii_index==4 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_bia_imp if bii_index==4 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_tsa_imp if bii_index==4 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3       75.00       75.00
          1 |          1       25.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_ama_imp if bii_index==4 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_smm_imp if bii_index==4 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       25.00       25.00
          1 |          3       75.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_im_imp if bii_index==4 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          4      100.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_pillarii_imp if bii_index==4 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2       50.00       50.00
          1 |          2       50.00      100.00
------------+-----------------------------------
      Total |          4      100.00

-> tabulation of bii_pillariii_imp if bii_index==4 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       25.00       25.00
          1 |          3       75.00      100.00
------------+-----------------------------------
      Total |          4      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==5

-> tabulation of bii_sa_imp if bii_index==5 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          9      100.00      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_firb_imp if bii_index==5 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          9      100.00      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_airb_imp if bii_index==5 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          9      100.00      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_bia_imp if bii_index==5 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       11.11       11.11
          1 |          8       88.89      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_tsa_imp if bii_index==5 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2       22.22       22.22
          1 |          7       77.78      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_ama_imp if bii_index==5 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          9      100.00      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_smm_imp if bii_index==5 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3       33.33       33.33
          1 |          6       66.67      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_im_imp if bii_index==5 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          9      100.00      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_pillarii_imp if bii_index==5 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2       22.22       22.22
          1 |          7       77.78      100.00
------------+-----------------------------------
      Total |          9      100.00

-> tabulation of bii_pillariii_imp if bii_index==5 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       11.11       11.11
          1 |          8       88.89      100.00
------------+-----------------------------------
      Total |          9      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==6

-> tabulation of bii_sa_imp if bii_index==6 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_firb_imp if bii_index==6 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          6       85.71       85.71
          1 |          1       14.29      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_airb_imp if bii_index==6 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_bia_imp if bii_index==6 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       14.29       14.29
          1 |          6       85.71      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_tsa_imp if bii_index==6 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_ama_imp if bii_index==6 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_smm_imp if bii_index==6 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_im_imp if bii_index==6 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          6       85.71       85.71
          1 |          1       14.29      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_pillarii_imp if bii_index==6 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          7      100.00      100.00
------------+-----------------------------------
      Total |          7      100.00

-> tabulation of bii_pillariii_imp if bii_index==6 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       14.29       14.29
          1 |          6       85.71      100.00
------------+-----------------------------------
      Total |          7      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==7

-> tabulation of bii_sa_imp if bii_index==7 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_firb_imp if bii_index==7 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2       66.67       66.67
          1 |          1       33.33      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_airb_imp if bii_index==7 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_bia_imp if bii_index==7 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_tsa_imp if bii_index==7 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_ama_imp if bii_index==7 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2       66.67       66.67
          1 |          1       33.33      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_smm_imp if bii_index==7 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_im_imp if bii_index==7 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       33.33       33.33
          1 |          2       66.67      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_pillarii_imp if bii_index==7 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       33.33       33.33
          1 |          2       66.67      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_pillariii_imp if bii_index==7 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==8

-> tabulation of bii_sa_imp if bii_index==8 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_firb_imp if bii_index==8 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_airb_imp if bii_index==8 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_bia_imp if bii_index==8 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_tsa_imp if bii_index==8 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_ama_imp if bii_index==8 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_smm_imp if bii_index==8 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2       66.67       66.67
          1 |          1       33.33      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_im_imp if bii_index==8 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2       66.67       66.67
          1 |          1       33.33      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_pillarii_imp if bii_index==8 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       33.33       33.33
          1 |          2       66.67      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_pillariii_imp if bii_index==8 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       33.33       33.33
          1 |          2       66.67      100.00
------------+-----------------------------------
      Total |          3      100.00

. tab1 bii_sa_imp bii_firb_imp bii_airb_imp bii_bia_imp bii_tsa_imp bii_ama_imp
>  bii_smm_imp bii_im_imp bii_pillarii_imp bii_pillariii_imp if bii_index==9

-> tabulation of bii_sa_imp if bii_index==9 

      Dummy |
  indicator |
adoption SA |
Credit Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_firb_imp if bii_index==9 

      Dummy |
  indicator |
   adoption |
FIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_airb_imp if bii_index==9 

      Dummy |
  indicator |
   adoption |
AIRB Credit |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_bia_imp if bii_index==9 

      Dummy |
  indicator |
   adoption |
        BIA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_tsa_imp if bii_index==9 

      Dummy |
  indicator |
   adoption |
        TSA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_ama_imp if bii_index==9 

      Dummy |
  indicator |
   adoption |
        AMA |
Operational |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          2       66.67       66.67
          1 |          1       33.33      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_smm_imp if bii_index==9 

      Dummy |
  indicator |
   adoption |
 SMM Market |
       Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_im_imp if bii_index==9 

      Dummy |
  indicator |
adoption IM |
Market Risk |      Freq.     Percent        Cum.
------------+-----------------------------------
          0 |          1       33.33       33.33
          1 |          2       66.67      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_pillarii_imp if bii_index==9 

      Dummy |
  indicator |
  Pillar II |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

-> tabulation of bii_pillariii_imp if bii_index==9 

      Dummy |
  indicator |
 Pillar III |
   Adoption |      Freq.     Percent        Cum.
------------+-----------------------------------
          1 |          3      100.00      100.00
------------+-----------------------------------
      Total |          3      100.00

. 
. *** ============================================================
. *Table A3: 2008 cross-section, with continuous connectivity matrices, rather 
> than binary link between countries
. *Load data
. use "AA-workingdata.dta", replace

. *Keep only obesrvations outside the Basel Committee in the 2008 cross-section
. keep if net_bcbs==0 & year==2008
(2,718 observations deleted)

. *Spatial lags individually: receiving foreign banks
. reg bii_index Lreceiveforeign_wght_ind Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi
>  Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      30.12
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6328
                                                Root MSE          =       2.68

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_ind |   .3676221    .198789     1.85   0.068    -.0278326 
>    .7630769
            Lprivcredit1 |   .0218049   .0081188     2.69   0.009     .0056542 
>    .0379557
            Lfdi_in_gdp1 |   .0064488   .0430559     0.15   0.881    -.0792031 
>    .0921006
                 Lpolity |   .0490719   .0641569     0.76   0.447    -.0785567 
>    .1767004
                    Lcpi |  -.0550811   .0171938    -3.20   0.002     -.089285 
>   -.0208773
                   Lcbiw |   .0278753   .0151592     1.84   0.070    -.0022812 
>    .0580318
               Lbankcon1 |   .0297401   .0150366     1.98   0.051    -.0001725 
>    .0596527
              Limf_iiiyr |  -.9431287   .8222575    -1.15   0.255    -2.578861 
>    .6926034
                         |
                  region |
                    EAP  |   1.851624   .9993063     1.85   0.067    -.1363143 
>    3.839563
                    ECA  |   3.583192   1.082725     3.31   0.001     1.429308 
>    5.737077
                   MENA  |   1.836604   1.327764     1.38   0.170    -.8047405 
>    4.477949
                     SA  |   3.964961   1.456951     2.72   0.008     1.066622 
>      6.8633
                    SSA  |   1.100973   .7482035     1.47   0.145    -.3874423 
>    2.589388
                         |
                   _cons |  -1.050044   2.465965    -0.43   0.671    -5.955633 
>    3.855545
-------------------------------------------------------------------------------
-----------

. outreg2 using app3.doc, replace dec(3) sdec(3) ctitle(" ") label sortvar(Lrec
> eiveforeign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_
> rat Ltradetogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 L
> imf_iiiyr)
app3.doc
dir : seeout

. *Spatial lags individually: banks abroad
. reg bii_index Lsendingabroad_wght_ind Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi 
> Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      27.74
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6298
                                                Root MSE          =     2.6909

-------------------------------------------------------------------------------
----------
                        |               Robust
              bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf.
>  Interval]
------------------------+------------------------------------------------------
----------
Lsendingabroad_wght_ind |   .3830962   .2572908     1.49   0.140    -.1287371  
>   .8949295
           Lprivcredit1 |   .0206036   .0091746     2.25   0.027     .0023523  
>   .0388549
           Lfdi_in_gdp1 |    .014342   .0412873     0.35   0.729    -.0677915  
>   .0964756
                Lpolity |   .0672733   .0685105     0.98   0.329    -.0690159  
>   .2035625
                   Lcpi |  -.0555472   .0177917    -3.12   0.002    -.0909405  
>  -.0201539
                  Lcbiw |   .0223413   .0143535     1.56   0.123    -.0062125  
>    .050895
              Lbankcon1 |   .0294111   .0160631     1.83   0.071    -.0025435  
>   .0613656
             Limf_iiiyr |  -.8593948   .8301343    -1.04   0.304    -2.510796  
>   .7920068
                        |
                 region |
                   EAP  |    1.32019   .9775828     1.35   0.181    -.6245338  
>   3.264913
                   ECA  |   3.398352   1.052047     3.23   0.002     1.305495  
>   5.491208
                  MENA  |   1.080648   1.442766     0.75   0.456    -1.789474  
>    3.95077
                    SA  |   3.509403   1.421701     2.47   0.016     .6811872  
>   6.337619
                   SSA  |   .4942455   .7747166     0.64   0.525    -1.046913  
>   2.035404
                        |
                  _cons |   .1149931   2.326151     0.05   0.961    -4.512463  
>   4.742449
-------------------------------------------------------------------------------
----------

. outreg2 using app3.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefore
> ign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_rat Ltra
> detogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiy
> r)
app3.doc
dir : seeout

. *Spatial lags individually: network membership
. reg bii_index Lnetwork_spw_ind Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw L
> bankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      37.49
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6501
                                                Root MSE          =     2.6163

-------------------------------------------------------------------------------
---
                 |               Robust
       bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
Lnetwork_spw_ind |     1.0783   .3994203     2.70   0.008     .2837254    1.872
> 874
    Lprivcredit1 |   .0260231   .0081416     3.20   0.002     .0098268    .0422
> 194
    Lfdi_in_gdp1 |  -.0101369    .041412    -0.24   0.807    -.0925185    .0722
> 447
         Lpolity |   .0238311    .064363     0.37   0.712    -.1042074    .1518
> 697
            Lcpi |  -.0712337    .017091    -4.17   0.000    -.1052332   -.0372
> 342
           Lcbiw |   .0207764   .0138978     1.49   0.139    -.0068708    .0484
> 236
       Lbankcon1 |   .0302698   .0142563     2.12   0.037     .0019094    .0586
> 302
      Limf_iiiyr |   -.899294   .8097239    -1.11   0.270    -2.510093    .7115
> 048
                 |
          region |
            EAP  |   .4957692   1.066552     0.46   0.643    -1.625942     2.61
> 748
            ECA  |   3.162612   1.037156     3.05   0.003     1.099379    5.225
> 845
           MENA  |    .792113   1.341025     0.59   0.556    -1.875613    3.459
> 839
             SA  |   2.869433   1.592067     1.80   0.075    -.2976951    6.036
> 561
            SSA  |    1.31995   .7753673     1.70   0.092     -.222502    2.862
> 403
                 |
           _cons |   .5181204     2.2373     0.23   0.817    -3.932582    4.968
> 823
-------------------------------------------------------------------------------
---

. outreg2 using app3.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefore
> ign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_rat Ltra
> detogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiy
> r)
app3.doc
dir : seeout

. *Spatial lags individually: sovereign ratings
. reg bii_index Lsovrating_spw_rat Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw
>  Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      34.48
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6681
                                                Root MSE          =     2.5479

-------------------------------------------------------------------------------
-----
                   |               Robust
         bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Inte
> rval]
-------------------+-----------------------------------------------------------
-----
Lsovrating_spw_rat |   1.310866   .3544891     3.70   0.000     .6056742    2.0
> 16058
      Lprivcredit1 |   .0119497   .0094377     1.27   0.209    -.0068249    .03
> 07243
      Lfdi_in_gdp1 |   .0332742   .0366112     0.91   0.366    -.0395572    .10
> 61056
           Lpolity |   .0686097   .0641381     1.07   0.288    -.0589815    .19
> 62009
              Lcpi |  -.0178695   .0189214    -0.94   0.348    -.0555101    .01
> 97712
             Lcbiw |   .0158451   .0142293     1.11   0.269    -.0124615    .04
> 41518
         Lbankcon1 |   .0293515   .0142792     2.06   0.043     .0009456    .05
> 77574
        Limf_iiiyr |  -.6652125   .7825529    -0.85   0.398     -2.22196    .89
> 15346
                   |
            region |
              EAP  |   .8886635   1.011601     0.88   0.382    -1.123732    2.9
> 01059
              ECA  |   3.089001    1.05241     2.94   0.004     .9954232    5.1
> 82579
             MENA  |   1.400566   1.425815     0.98   0.329    -1.435835    4.2
> 36966
               SA  |   4.043914    1.41717     2.85   0.005     1.224711    6.8
> 63116
              SSA  |   .6825864   .7984116     0.85   0.395    -.9057085    2.2
> 70881
                   |
             _cons |  -2.841839   2.084308    -1.36   0.176    -6.988191    1.3
> 04513
-------------------------------------------------------------------------------
-----

. outreg2 using app3.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefore
> ign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_rat Ltra
> detogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiy
> r)
app3.doc
dir : seeout

. *Spatial lags individually: trade "placebo"
. reg bii_index Ltradetogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw L
> bankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      28.91
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6238
                                                Root MSE          =     2.7128

-------------------------------------------------------------------------------
---
                 |               Robust
       bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
Ltradetogdp_wght |   .4557199   .5037983     0.90   0.368    -.5464955    1.457
> 935
    Lprivcredit1 |   .0210455   .0093811     2.24   0.028     .0023835    .0397
> 074
    Lfdi_in_gdp1 |   .0127158   .0428543     0.30   0.767    -.0725351    .0979
> 667
         Lpolity |   .0603027   .0663653     0.91   0.366     -.071719    .1923
> 244
            Lcpi |  -.0547962    .020083    -2.73   0.008    -.0947476   -.0148
> 448
           Lcbiw |   .0214147   .0144277     1.48   0.142    -.0072867    .0501
> 161
       Lbankcon1 |   .0247027   .0148039     1.67   0.099    -.0047469    .0541
> 524
      Limf_iiiyr |  -.9824114   .8124557    -1.21   0.230    -2.598645    .6338
> 217
                 |
          region |
            EAP  |   1.371774    1.03924     1.32   0.191    -.6956065    3.439
> 154
            ECA  |   3.206266   1.109414     2.89   0.005     .9992879    5.413
> 244
           MENA  |   .8013767   1.486071     0.54   0.591    -2.154892    3.757
> 646
             SA  |   3.599934   1.486405     2.42   0.018     .6430022    6.556
> 866
            SSA  |   .4041886   .7516486     0.54   0.592     -1.09108    1.899
> 457
                 |
           _cons |  -.0456994   2.556014    -0.02   0.986    -5.130425    5.039
> 026
-------------------------------------------------------------------------------
---

. outreg2 using app3.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefore
> ign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_rat Ltra
> detogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiy
> r)
app3.doc
dir : seeout

. *All spatial lags
. reg bii_index Lreceiveforeign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_i
> nd Lsovrating_spw_rat Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(16, 79)         =      45.97
                                                Prob > F          =     0.0000
                                                R-squared         =     0.7022
                                                Root MSE          =     2.4591

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_ind |   .1619684   .1829171     0.89   0.379     -.202119 
>    .5260558
 Lsendingabroad_wght_ind |   .2612426   .2524465     1.03   0.304    -.2412395 
>    .7637247
        Lnetwork_spw_ind |   .9660793   .3866815     2.50   0.015      .196409 
>     1.73575
      Lsovrating_spw_rat |   1.162704    .354539     3.28   0.002     .4570113 
>    1.868396
            Lprivcredit1 |   .0143614   .0086319     1.66   0.100    -.0028201 
>    .0315428
            Lfdi_in_gdp1 |   .0144902   .0340921     0.43   0.672    -.0533684 
>    .0823488
                 Lpolity |   .0268394   .0679165     0.40   0.694     -.108345 
>    .1620239
                    Lcpi |  -.0270226   .0186779    -1.45   0.152       -.0642 
>    .0101548
                   Lcbiw |   .0156548   .0142081     1.10   0.274    -.0126258 
>    .0439354
               Lbankcon1 |   .0431973   .0154098     2.80   0.006     .0125249 
>    .0738698
              Limf_iiiyr |  -.4015061   .7535728    -0.53   0.596    -1.901455 
>    1.098443
                         |
                  region |
                    EAP  |  -.1259049   .9694868    -0.13   0.897     -2.05562 
>     1.80381
                    ECA  |    2.37903   1.060799     2.24   0.028     .2675626 
>    4.490498
                   MENA  |   1.079661   1.368362     0.79   0.432    -1.643995 
>    3.803318
                     SA  |   3.427439   1.393948     2.46   0.016      .652854 
>    6.202024
                    SSA  |    1.25563   .7951826     1.58   0.118    -.3271416 
>    2.838401
                         |
                   _cons |  -4.300383   2.459483    -1.75   0.084    -9.195862 
>     .595096
-------------------------------------------------------------------------------
-----------

. outreg2 using app3.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefore
> ign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_rat Ltra
> detogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiy
> r)
app3.doc
dir : seeout

. *All spatial lags + trade "placebo"
. reg bii_index Lreceiveforeign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_i
> nd Lsovrating_spw_rat Ltradetogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi
>  Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(17, 78)         =      43.53
                                                Prob > F          =     0.0000
                                                R-squared         =     0.7025
                                                Root MSE          =     2.4732

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_ind |   .1720138    .184336     0.93   0.354    -.1949711 
>    .5389986
 Lsendingabroad_wght_ind |   .2655198   .2521769     1.05   0.296    -.2365257 
>    .7675654
        Lnetwork_spw_ind |   1.003097   .3885448     2.58   0.012     .2295638 
>     1.77663
      Lsovrating_spw_rat |   1.168224   .3520146     3.32   0.001     .4674166 
>    1.869031
        Ltradetogdp_wght |  -.1551043   .3694011    -0.42   0.676    -.8905254 
>    .5803167
            Lprivcredit1 |   .0149395   .0086947     1.72   0.090    -.0023704 
>    .0322493
            Lfdi_in_gdp1 |   .0128561   .0344734     0.37   0.710    -.0557751 
>    .0814873
                 Lpolity |   .0264934   .0680324     0.39   0.698    -.1089486 
>    .1619354
                    Lcpi |  -.0288828   .0195041    -1.48   0.143    -.0677124 
>    .0099469
                   Lcbiw |   .0163113   .0143335     1.14   0.259    -.0122245 
>     .044847
               Lbankcon1 |   .0430519   .0155847     2.76   0.007     .0120252 
>    .0740786
              Limf_iiiyr |  -.4119919   .7575313    -0.54   0.588    -1.920121 
>    1.096137
                         |
                  region |
                    EAP  |  -.0818271   .9739192    -0.08   0.933    -2.020751 
>    1.857097
                    ECA  |   2.525075   1.098815     2.30   0.024      .337503 
>    4.712648
                   MENA  |   1.236464   1.474593     0.84   0.404    -1.699225 
>    4.172152
                     SA  |   3.414701   1.415407     2.41   0.018     .5968414 
>    6.232561
                    SSA  |    1.38904   .8092835     1.72   0.090    -.2221197 
>      3.0002
                         |
                   _cons |  -4.049412   2.589575    -1.56   0.122     -9.20486 
>    1.106035
-------------------------------------------------------------------------------
-----------

. outreg2 using app3.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefore
> ign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_rat Ltra
> detogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiy
> r)
app3.doc
dir : seeout

. 
. *Table A4: 2013 cross-section, with continuous connectivity matrices, rather 
> than binary link between countries
. *Load data
. use "AA-workingdata.dta", replace

. *Keep only obesrvations outside the Basel Committee in the 2008 cross-section
. keep if net_bcbs==0 & year==2013
(2,749 observations deleted)

. *Spatial lags individually: receiving foreign banks
. reg bii_index Lreceiveforeign_wght_ind Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi
>  Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       6.88
                                                Prob > F          =     0.0000
                                                R-squared         =     0.3875
                                                Root MSE          =     2.7338

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_ind |   .3052464   .0818568     3.73   0.000     .1409121 
>    .4695807
            Lprivcredit1 |   .0331836   .0152035     2.18   0.034     .0026613 
>    .0637059
            Lfdi_in_gdp1 |  -.0386978   .0369978    -1.05   0.301    -.1129741 
>    .0355784
                 Lpolity |  -.0470506   .0837919    -0.56   0.577    -.2152699 
>    .1211686
                    Lcpi |  -.0284397   .0316038    -0.90   0.372     -.091887 
>    .0350076
                   Lcbiw |   .0403236    .028536     1.41   0.164    -.0169648 
>    .0976121
               Lbankcon1 |   .0076786    .020558     0.37   0.710    -.0335934 
>    .0489505
              Limf_iiiyr |   .5412026   .8154693     0.66   0.510     -1.09592 
>    2.178326
                         |
                  region |
                    EAP  |   1.557672   1.266586     1.23   0.224     -.985105 
>    4.100449
                    ECA  |   .4852543   1.543729     0.31   0.755    -2.613912 
>    3.584421
                   MENA  |   1.457852   1.464678     1.00   0.324    -1.482612 
>    4.398317
                     SA  |   2.542066   1.749284     1.45   0.152    -.9697688 
>    6.053901
                    SSA  |   .1455172   1.034661     0.14   0.889    -1.931652 
>    2.222687
                         |
                   _cons |  -1.878928   3.173164    -0.59   0.556    -8.249322 
>    4.491465
-------------------------------------------------------------------------------
-----------

. outreg2 using app4.doc, replace dec(3) sdec(3) ctitle(" ") label sortvar(Lrec
> eiveforeign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_
> rat Ltradetogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 L
> imf_iiiyr)
app4.doc
dir : seeout

. *Spatial lags individually: banks abroad
. reg bii_index Lsendingabroad_wght_ind Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi 
> Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       4.63
                                                Prob > F          =     0.0000
                                                R-squared         =     0.3553
                                                Root MSE          =     2.8047

-------------------------------------------------------------------------------
----------
                        |               Robust
              bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf.
>  Interval]
------------------------+------------------------------------------------------
----------
Lsendingabroad_wght_ind |   .3151017   .2035769     1.55   0.128    -.0935961  
>   .7237995
           Lprivcredit1 |   .0387239   .0153069     2.53   0.015     .0079941  
>   .0694537
           Lfdi_in_gdp1 |  -.0429315   .0418404    -1.03   0.310    -.1269297  
>   .0410666
                Lpolity |   .0283981   .0798372     0.36   0.724    -.1318816  
>   .1886779
                   Lcpi |   .0022072   .0318283     0.07   0.945    -.0616907  
>   .0661051
                  Lcbiw |   .0269076   .0292924     0.92   0.363    -.0318994  
>   .0857146
              Lbankcon1 |   .0049229   .0190665     0.26   0.797    -.0333548  
>   .0432006
             Limf_iiiyr |   .2727962   .8285386     0.33   0.743    -1.390564  
>   1.936157
                        |
                 region |
                   EAP  |   .7422523   1.283972     0.58   0.566    -1.835429  
>   3.319933
                   ECA  |   1.386696   1.527634     0.91   0.368    -1.680158  
>   4.453551
                  MENA  |   .9825336   1.554847     0.63   0.530    -2.138952  
>    4.10402
                    SA  |   2.251124    1.60636     1.40   0.167    -.9737778  
>   5.476026
                   SSA  |   .4800778   1.049767     0.46   0.649    -1.627418  
>   2.587574
                        |
                  _cons |  -1.935853   3.184687    -0.61   0.546    -8.329379  
>   4.457673
-------------------------------------------------------------------------------
----------

. outreg2 using app4.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefore
> ign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_rat Ltra
> detogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiy
> r)
app4.doc
dir : seeout

. *Spatial lags individually: network membership
. reg bii_index Lnetwork_spw_ind Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw L
> bankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       5.02
                                                Prob > F          =     0.0000
                                                R-squared         =     0.3758
                                                Root MSE          =     2.7597

-------------------------------------------------------------------------------
---
                 |               Robust
       bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
Lnetwork_spw_ind |   .4945543    .169654     2.92   0.005     .1539597     .835
> 149
    Lprivcredit1 |    .034527   .0163992     2.11   0.040     .0016043    .0674
> 497
    Lfdi_in_gdp1 |  -.0603684   .0398288    -1.52   0.136     -.140328    .0195
> 912
         Lpolity |  -.0025402   .0738585    -0.03   0.973    -.1508173    .1457
> 369
            Lcpi |  -.0261545   .0320491    -0.82   0.418    -.0904958    .0381
> 867
           Lcbiw |   .0011825   .0319623     0.04   0.971    -.0629844    .0653
> 494
       Lbankcon1 |  -.0055085   .0195922    -0.28   0.780    -.0448415    .0338
> 244
      Limf_iiiyr |   .5557074   .8290193     0.67   0.506    -1.108618    2.220
> 033
                 |
          region |
            EAP  |   .1000258   1.366159     0.07   0.942    -2.642652    2.842
> 704
            ECA  |  -.2614504   1.445681    -0.18   0.857    -3.163776    2.640
> 875
           MENA  |   1.193902   1.360601     0.88   0.384    -1.537618    3.925
> 421
             SA  |   .8561787   1.606004     0.53   0.596    -2.368008    4.080
> 365
            SSA  |    1.26608   1.063776     1.19   0.239    -.8695393    3.401
> 699
                 |
           _cons |   1.417835   3.336072     0.43   0.673    -5.279608    8.115
> 278
-------------------------------------------------------------------------------
---

. outreg2 using app4.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefore
> ign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_rat Ltra
> detogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiy
> r)
app4.doc
dir : seeout

. *Spatial lags individually: sovereign ratings
. reg bii_index Lsovrating_spw_rat Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw
>  Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       5.58
                                                Prob > F          =     0.0000
                                                R-squared         =     0.3473
                                                Root MSE          =     2.8219

-------------------------------------------------------------------------------
-----
                   |               Robust
         bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Inte
> rval]
-------------------+-----------------------------------------------------------
-----
Lsovrating_spw_rat |   .2723775   .1351482     2.02   0.049     .0010561    .54
> 36989
      Lprivcredit1 |   .0317313   .0173176     1.83   0.073    -.0030353    .06
> 64979
      Lfdi_in_gdp1 |  -.0599974   .0380967    -1.57   0.121    -.1364797    .01
> 64849
           Lpolity |  -.0024928   .0879904    -0.03   0.978    -.1791409    .17
> 41554
              Lcpi |  -.0125578   .0322457    -0.39   0.699    -.0772937     .0
> 52178
             Lcbiw |   .0197138    .029104     0.68   0.501    -.0387149    .07
> 81425
         Lbankcon1 |  -.0033844   .0206311    -0.16   0.870     -.044803    .03
> 80342
        Limf_iiiyr |   .2909681   .8246069     0.35   0.726    -1.364499    1.9
> 46436
                   |
            region |
              EAP  |   1.349601   1.414748     0.95   0.345    -1.490625    4.1
> 89827
              ECA  |   1.716551   1.357775     1.26   0.212    -1.009295    4.4
> 42397
             MENA  |   1.698398   1.509433     1.13   0.266    -1.331915    4.7
> 28711
               SA  |    2.99468   1.862888     1.61   0.114    -.7452242    6.7
> 34584
              SSA  |   .7636266   1.026126     0.74   0.460    -1.296408    2.8
> 23661
                   |
             _cons |  -.0672254   3.503807    -0.02   0.985    -7.101411     6.
> 96696
-------------------------------------------------------------------------------
-----

. outreg2 using app4.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefore
> ign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_rat Ltra
> detogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiy
> r)
app4.doc
dir : seeout

. *Spatial lags individually: trade "placebo"
. reg bii_index Ltradetogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw L
> bankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       3.50
                                                Prob > F          =     0.0007
                                                R-squared         =     0.3519
                                                Root MSE          =     2.8119

-------------------------------------------------------------------------------
---
                 |               Robust
       bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
Ltradetogdp_wght |  -.8411727   .4182752    -2.01   0.050    -1.680895   -.0014
> 503
    Lprivcredit1 |   .0429935   .0151294     2.84   0.006     .0126201    .0733
> 669
    Lfdi_in_gdp1 |   -.049845   .0410985    -1.21   0.231    -.1323537    .0326
> 636
         Lpolity |   .0515912   .0814786     0.63   0.529    -.1119838    .2151
> 663
            Lcpi |   -.040652   .0304795    -1.33   0.188    -.1018422    .0205
> 383
           Lcbiw |   .0302184   .0289082     1.05   0.301    -.0278173    .0882
> 541
       Lbankcon1 |   .0017014   .0208299     0.08   0.935    -.0401163    .0435
> 191
      Limf_iiiyr |   .0878726   .8591887     0.10   0.919    -1.637021    1.812
> 766
                 |
          region |
            EAP  |   3.039503   1.700517     1.79   0.080    -.3744272    6.453
> 432
            ECA  |   1.742932   1.489725     1.17   0.247    -1.247816     4.73
> 368
           MENA  |   3.033377   1.687147     1.80   0.078    -.3537123    6.420
> 467
             SA  |   4.381661   2.268668     1.93   0.059    -.1728786    8.936
> 202
            SSA  |   2.125231   1.294148     1.64   0.107    -.4728801    4.723
> 343
                 |
           _cons |   6.515307   3.972858     1.64   0.107    -1.460538    14.49
> 115
-------------------------------------------------------------------------------
---

. outreg2 using app4.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefore
> ign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_rat Ltra
> detogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiy
> r)
app4.doc
dir : seeout

. *All spatial lags
. reg bii_index Lreceiveforeign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_i
> nd Lsovrating_spw_rat Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(16, 48)         =       7.48
                                                Prob > F          =     0.0000
                                                R-squared         =     0.4661
                                                Root MSE          =     2.6308

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_ind |   .1996518   .0884808     2.26   0.029     .0217492 
>    .3775544
 Lsendingabroad_wght_ind |   .1866479   .1629663     1.15   0.258    -.1410178 
>    .5143137
        Lnetwork_spw_ind |   .3477063   .1619445     2.15   0.037      .022095 
>    .6733176
      Lsovrating_spw_rat |   .2442767   .1309483     1.87   0.068    -.0190124 
>    .5075658
            Lprivcredit1 |   .0211997   .0149477     1.42   0.163    -.0088547 
>    .0512541
            Lfdi_in_gdp1 |  -.0490061   .0418294    -1.17   0.247    -.1331097 
>    .0350975
                 Lpolity |  -.0503829   .0701881    -0.72   0.476    -.1915055 
>    .0907398
                    Lcpi |  -.0048777   .0292572    -0.17   0.868    -.0637033 
>    .0539479
                   Lcbiw |   .0163799   .0304052     0.54   0.593    -.0447537 
>    .0775136
               Lbankcon1 |    .010551   .0192072     0.55   0.585    -.0280676 
>    .0491695
              Limf_iiiyr |    .320604   .8562228     0.37   0.710    -1.400947 
>    2.042155
                         |
                  region |
                    EAP  |   .1937314   1.166739     0.17   0.869    -2.152154 
>    2.539617
                    ECA  |   .0964734   1.331297     0.07   0.943    -2.580279 
>    2.773226
                   MENA  |   .7543832   1.421277     0.53   0.598    -2.103285 
>    3.612052
                     SA  |   1.797527   1.309053     1.37   0.176    -.8345001 
>    4.429555
                    SSA  |   .8674047   1.139908     0.76   0.450    -1.424533 
>    3.159342
                         |
                   _cons |  -2.799528   3.081755    -0.91   0.368    -8.995812 
>    3.396756
-------------------------------------------------------------------------------
-----------

. outreg2 using app4.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefore
> ign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_rat Ltra
> detogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiy
> r)
app4.doc
dir : seeout

. *All spatial lags + trade "placebo"
. reg bii_index Lreceiveforeign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_i
> nd Lsovrating_spw_rat Ltradetogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi
>  Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(17, 47)         =       8.63
                                                Prob > F          =     0.0000
                                                R-squared         =     0.5149
                                                Root MSE          =     2.5342

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_ind |   .2417099   .0848533     2.85   0.006     .0710071 
>    .4124126
 Lsendingabroad_wght_ind |   .1817255   .1549711     1.17   0.247    -.1300362 
>    .4934871
        Lnetwork_spw_ind |    .294283   .1562139     1.88   0.066    -.0199788 
>    .6085448
      Lsovrating_spw_rat |    .246662   .1265514     1.95   0.057    -.0079266 
>    .5012506
        Ltradetogdp_wght |   -.929227   .3779187    -2.46   0.018    -1.689501 
>   -.1689528
            Lprivcredit1 |   .0226878   .0136874     1.66   0.104    -.0048476 
>    .0502232
            Lfdi_in_gdp1 |  -.0428927   .0404003    -1.06   0.294    -.1241676 
>    .0383822
                 Lpolity |  -.0198574    .061871    -0.32   0.750    -.1443258 
>     .104611
                    Lcpi |  -.0253316   .0251197    -1.01   0.318    -.0758659 
>    .0252026
                   Lcbiw |   .0277991   .0301784     0.92   0.362    -.0329121 
>    .0885103
               Lbankcon1 |   .0197915   .0184788     1.07   0.290    -.0173831 
>    .0569661
              Limf_iiiyr |  -.0865442   .8538898    -0.10   0.920    -1.804349 
>     1.63126
                         |
                  region |
                    EAP  |   2.200898   1.388215     1.59   0.120    -.5918309 
>    4.993626
                    ECA  |    .645853   1.341913     0.48   0.633    -2.053728 
>    3.345434
                   MENA  |   2.256791   1.610926     1.40   0.168    -.9839735 
>    5.497555
                     SA  |   4.146843   1.609328     2.58   0.013     .9092916 
>    7.384394
                    SSA  |   2.433647   1.288438     1.89   0.065    -.1583559 
>    5.025649
                         |
                   _cons |   3.184564   3.621892     0.88   0.384    -4.101742 
>    10.47087
-------------------------------------------------------------------------------
-----------

. outreg2 using app4.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefore
> ign_wght_ind Lsendingabroad_wght_ind Lnetwork_spw_ind Lsovrating_spw_rat Ltra
> detogdp_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiy
> r)
app4.doc
dir : seeout

. 
. *** ============================================================
. **Table A5: Additional domestic controls: 2008 and 2013
. *Load data
. use "AA-workingdata.dta", replace

. 
. *2008*
. keep if year==2008 & net_bcbs==0
(2,718 observations deleted)

. reg bii_index Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_b
> in Lsovrating_spw_same Ltradebin30_wght Llgdppc Lfdi_in_gdp1 Lpolity Lcpi Lcb
> iw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(17, 78)         =      31.64
                                                Prob > F          =     0.0000
                                                R-squared         =     0.7007
                                                Root MSE          =      2.473

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_bin |   .4288416   .2243523     1.91   0.060    -.0178096 
>    .8754928
 Lsendingabroad_wght_bin |    .513817   .2089258     2.46   0.016     .0978777 
>    .9297562
        Lnetwork_spw_bin |   .8372326   .4170173     2.01   0.048     .0070149 
>     1.66745
     Lsovrating_spw_same |   .4405967     .22053     2.00   0.049     .0015552 
>    .8796383
        Ltradebin30_wght |  -1.179841   1.211183    -0.97   0.333    -3.591121 
>    1.231439
                 Llgdppc |   1.098494   .5377735     2.04   0.044     .0278695 
>    2.169119
            Lfdi_in_gdp1 |   .0261672   .0397437     0.66   0.512    -.0529564 
>    .1052907
                 Lpolity |   .0359732   .0532573     0.68   0.501     -.070054 
>    .1420004
                    Lcpi |  -.0084765   .0287555    -0.29   0.769    -.0657244 
>    .0487714
                   Lcbiw |   .0118562   .0139427     0.85   0.398    -.0159016 
>    .0396141
               Lbankcon1 |   .0481602   .0158681     3.04   0.003     .0165692 
>    .0797512
              Limf_iiiyr |   -.490994   .7761169    -0.63   0.529    -2.036124 
>    1.054136
                         |
                  region |
                    EAP  |   1.618607   .9585123     1.69   0.095    -.2896445 
>    3.526858
                    ECA  |   3.227788   1.326268     2.43   0.017     .5873922 
>    5.868184
                   MENA  |   1.255722   1.179236     1.06   0.290    -1.091956 
>      3.6034
                     SA  |   4.416831   1.247224     3.54   0.001     1.933799 
>    6.899863
                    SSA  |   2.166888   .9312144     2.33   0.023     .3129824 
>    4.020793
                         |
                   _cons |  -4.161771   4.359711    -0.95   0.343    -12.84129 
>    4.517747
-------------------------------------------------------------------------------
-----------

. outreg2 using app5.doc, replace dec(3) sdec(3) ctitle(" ") label drop(ib3.reg
> ion) sortvar(Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bi
> n Lsovrating_spw_same Ltradebin30_wght Llgdppc Lprivcredit1 Lfdi_in_gdp1 Lpol
> ity Lcpi Lcbiw Lbankcon1 Limf_iiiyr Lbrss_govbanks_i brss_crar_i Lregulatory_
> quality1 Lsup_banks Lsup_power1 Lovr_cap_string1 Laccounting_practices1 Lpriv
> atemonitoring1 doi_ecr_i) addtext(Region dummies, YES)
app5.doc
dir : seeout

. reg bii_index Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_b
> in Lsovrating_spw_same Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcp
> i Lcbiw Lbankcon1 Limf_iiiyr Lbrss_govbanks_i brss_crar_i Lregulatory_quality
> 1 Lsup_banks Lsup_power1 Lovr_cap_string1 Laccounting_practices1 Lprivatemoni
> toring1 doi_ecr_i ib3.region, robust

Linear regression                               Number of obs     =         80
                                                F(26, 53)         =      23.15
                                                Prob > F          =     0.0000
                                                R-squared         =     0.7774
                                                Root MSE          =     2.4183

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_bin |   .3308119   .2210309     1.50   0.140    -.1125199 
>    .7741437
 Lsendingabroad_wght_bin |   .4541771   .2208516     2.06   0.045     .0112049 
>    .8971493
        Lnetwork_spw_bin |   1.685938   .5639354     2.99   0.004     .5548263 
>    2.817049
     Lsovrating_spw_same |   .2135431   .2300773     0.93   0.358    -.2479336 
>    .6750197
        Ltradebin30_wght |  -1.717506   1.262924    -1.36   0.180    -4.250609 
>    .8155983
            Lprivcredit1 |   .0145452   .0080643     1.80   0.077    -.0016298 
>    .0307201
            Lfdi_in_gdp1 |  -.0246584   .0355396    -0.69   0.491    -.0959419 
>    .0466251
                 Lpolity |  -.0395111   .0748725    -0.53   0.600    -.1896864 
>    .1106642
                    Lcpi |  -.0304519   .0199159    -1.53   0.132    -.0703982 
>    .0094944
                   Lcbiw |    .022506   .0181968     1.24   0.222    -.0139921 
>    .0590041
               Lbankcon1 |   .0513418   .0198816     2.58   0.013     .0114644 
>    .0912192
              Limf_iiiyr |  -.2111305   .8100153    -0.26   0.795    -1.835815 
>    1.413554
        Lbrss_govbanks_i |  -.0276846   .0183299    -1.51   0.137    -.0644498 
>    .0090805
             brss_crar_i |  -11.32911   7.021275    -1.61   0.113    -25.41201 
>     2.75378
    Lregulatory_quality1 |   .3867957   .4226875     0.92   0.364    -.4610081 
>      1.2346
              Lsup_banks |  -.0290714   .0555817    -0.52   0.603    -.1405542 
>    .0824114
             Lsup_power1 |   .0177856   .1762319     0.10   0.920    -.3356909 
>    .3712621
        Lovr_cap_string1 |   .2304157   .1917162     1.20   0.235    -.1541183 
>    .6149497
  Laccounting_practices1 |   .5466858   1.278869     0.43   0.671    -2.018401 
>    3.111773
     Lprivatemonitoring1 |   .0670503   .1754341     0.38   0.704    -.2848259 
>    .4189265
               doi_ecr_i |   .2170881   .1117904     1.94   0.057    -.0071349 
>    .4413112
                         |
                  region |
                    EAP  |   .8445361   1.394915     0.61   0.547    -1.953309 
>    3.642381
                    ECA  |   4.087055     1.6645     2.46   0.017     .7484911 
>    7.425619
                   MENA  |   1.683936   1.542045     1.09   0.280    -1.409015 
>    4.776887
                     SA  |   4.168293   1.463709     2.85   0.006     1.232465 
>    7.104121
                    SSA  |   2.109147   1.042318     2.02   0.048     .0185223 
>    4.199771
                         |
                   _cons |  -2.063821   4.941749    -0.42   0.678    -11.97571 
>    7.848073
-------------------------------------------------------------------------------
-----------

. outreg2 using app5.doc, dec(3) sdec(3) ctitle(" ") label drop(ib3.region) sor
> tvar(Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovra
> ting_spw_same Ltradebin30_wght Llgdppc Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi
>  Lcbiw Lbankcon1 Limf_iiiyr Lbrss_govbanks_i brss_crar_i Lregulatory_quality1
>  Lsup_banks Lsup_power1 Lovr_cap_string1 Laccounting_practices1 Lprivatemonit
> oring1 doi_ecr_i) addtext(Region dummies, YES)
app5.doc
dir : seeout

. *2013*
. use "AA-workingdata.dta", replace

. keep if year==2013 & net_bcbs==0
(2,749 observations deleted)

. reg bii_index Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_b
> in Lsovrating_spw_same Ltradebin30_wght Llgdppc Lfdi_in_gdp1 Lpolity Lcpi Lcb
> iw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(17, 47)         =       7.37
                                                Prob > F          =     0.0000
                                                R-squared         =     0.4638
                                                Root MSE          =     2.6447

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_bin |   .2025142   .0971651     2.08   0.043     .0070433 
>    .3979851
 Lsendingabroad_wght_bin |    .179305    .170155     1.05   0.297    -.1630027 
>    .5216127
        Lnetwork_spw_bin |   .2741447   .1966288     1.39   0.170    -.1214215 
>    .6697109
     Lsovrating_spw_same |   .2967542   .1348226     2.20   0.033     .0255261 
>    .5679823
        Ltradebin30_wght |  -.2854309   .8054731    -0.35   0.725    -1.905834 
>    1.334972
                 Llgdppc |   .2512045   .7954579     0.32   0.754     -1.34905 
>    1.851459
            Lfdi_in_gdp1 |  -.0432864    .043217    -1.00   0.322    -.1302278 
>     .043655
                 Lpolity |  -.0020578   .0740812    -0.03   0.978      -.15109 
>    .1469744
                    Lcpi |   -.006499     .04397    -0.15   0.883    -.0949552 
>    .0819572
                   Lcbiw |   .0061084   .0273729     0.22   0.824    -.0489588 
>    .0611756
               Lbankcon1 |   .0059222   .0220136     0.27   0.789    -.0383634 
>    .0502077
              Limf_iiiyr |   .2910942   .7644397     0.38   0.705     -1.24676 
>    1.828948
                         |
                  region |
                    EAP  |   1.489397   2.049593     0.73   0.471    -2.633852 
>    5.612646
                    ECA  |   .7008626   1.923188     0.36   0.717    -3.168092 
>    4.569817
                   MENA  |   1.770422   1.684635     1.05   0.299    -1.618626 
>     5.15947
                     SA  |   2.623037   2.264793     1.16   0.253    -1.933139 
>    7.179214
                    SSA  |   1.161162   1.680484     0.69   0.493    -2.219535 
>     4.54186
                         |
                   _cons |   .3824287   6.596222     0.06   0.954    -12.88746 
>    13.65232
-------------------------------------------------------------------------------
-----------

. outreg2 using app5.doc, dec(3) sdec(3) ctitle(" ") label drop(ib3.region) sor
> tvar(Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovra
> ting_spw_same Ltradebin30_wght Llgdppc Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi
>  Lcbiw Lbankcon1 Limf_iiiyr Lbrss_govbanks_i brss_crar_i Lregulatory_quality1
>  Lsup_banks Lsup_power1 Lovr_cap_string1 Laccounting_practices1 Lprivatemonit
> oring1 doi_ecr_i) addtext(Region dummies, YES)
app5.doc
dir : seeout

. reg bii_index Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_b
> in Lsovrating_spw_same Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcp
> i Lcbiw Lbankcon1 Limf_iiiyr Lbrss_govbanks_i brss_crar_i Lregulatory_quality
> 1 Lsup_banks Lsup_power1 Lovr_cap_string1 Laccounting_practices1 Lprivatemoni
> toring1 doi_ecr_i ib3.region, robust

Linear regression                               Number of obs     =         56
                                                F(26, 29)         =       6.90
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6203
                                                Root MSE          =     2.7275

-------------------------------------------------------------------------------
-----------
                         |               Robust
               bii_index |      Coef.   Std. Err.      t    P>|t|     [95% Conf
> . Interval]
-------------------------+-----------------------------------------------------
-----------
Lreceiveforeign_wght_bin |   .1718763    .137874     1.25   0.223    -.1101077 
>    .4538602
 Lsendingabroad_wght_bin |  -.0078533   .1883391    -0.04   0.967      -.39305 
>    .3773434
        Lnetwork_spw_bin |   .1997301   .2926369     0.68   0.500    -.3987795 
>    .7982397
     Lsovrating_spw_same |   .2242185   .1646218     1.36   0.184    -.1124708 
>    .5609079
        Ltradebin30_wght |  -1.070154   .8808233    -1.21   0.234     -2.87164 
>     .731332
            Lprivcredit1 |   .0049327   .0271968     0.18   0.857    -.0506911 
>    .0605565
            Lfdi_in_gdp1 |  -.1007995   .0854045    -1.18   0.247    -.2754714 
>    .0738724
                 Lpolity |   .0147022   .1187398     0.12   0.902     -.228148 
>    .2575524
                    Lcpi |  -.0474134   .0506894    -0.94   0.357    -.1510849 
>     .056258
                   Lcbiw |   .0014471   .0366761     0.04   0.969    -.0735639 
>    .0764582
               Lbankcon1 |   -.018361   .0287652    -0.64   0.528    -.0771925 
>    .0404705
              Limf_iiiyr |   -.456254   1.220169    -0.37   0.711    -2.951781 
>    2.039273
        Lbrss_govbanks_i |  -.0443387   .0276099    -1.61   0.119    -.1008074 
>      .01213
             brss_crar_i |  -6.032706    9.55977    -0.63   0.533    -25.58463 
>    13.51922
    Lregulatory_quality1 |  -.8806666   1.497887    -0.59   0.561    -3.944189 
>    2.182856
              Lsup_banks |  -.0102751   .1200431    -0.09   0.932    -.2557907 
>    .2352406
             Lsup_power1 |   .1025622   .1725741     0.59   0.557    -.2503915 
>     .455516
        Lovr_cap_string1 |  -.1054678   .3319682    -0.32   0.753     -.784419 
>    .5734834
  Laccounting_practices1 |  -2.119574   1.321322    -1.60   0.120     -4.82198 
>    .5828319
     Lprivatemonitoring1 |   .4764644   .3601071     1.32   0.196    -.2600373 
>    1.212966
               doi_ecr_i |   .1529452   .2278155     0.67   0.507    -.3129897 
>    .6188801
                         |
                  region |
                    EAP  |   3.235868    2.38253     1.36   0.185    -1.636953 
>     8.10869
                    ECA  |   2.596915   2.222109     1.17   0.252    -1.947807 
>    7.141638
                   MENA  |   4.244793   2.704618     1.57   0.127    -1.286771 
>    9.776358
                     SA  |   5.702534   2.731617     2.09   0.046     .1157497 
>    11.28932
                    SSA  |   2.388261    2.33745     1.02   0.315    -2.392361 
>    7.168883
                         |
                   _cons |    8.88575   9.886082     0.90   0.376    -11.33356 
>    29.10506
-------------------------------------------------------------------------------
-----------

. outreg2 using app5.doc, dec(3) sdec(3) ctitle(" ") label drop(ib3.region) sor
> tvar(Lreceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovra
> ting_spw_same Ltradebin30_wght Llgdppc Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi
>  Lcbiw Lbankcon1 Limf_iiiyr Lbrss_govbanks_i brss_crar_i Lregulatory_quality1
>  Lsup_banks Lsup_power1 Lovr_cap_string1 Laccounting_practices1 Lprivatemonit
> oring1 doi_ecr_i) addtext(Region dummies, YES)
app5.doc
dir : seeout

. 
. *** ============================================================
. ** GMM models **
. 
. *Table A6: Spatial-GMM model of extent of Basel II adoption in 2008, estimati
> on sample expanded to include Basel Committee Members
. *Keep 2008 and only relevant observations
. use "AA-workingdata.dta", replace

. keep if year==2008
(2,705 observations deleted)

. drop year

. drop if rf07_1==.
(39 observations deleted)

. 
. *spset the data for spatial analysis. iso is the unit identifier.
. xtset, clear

. spset, clear

. spset iso
  Sp dataset AA-workingdata.dta
                data:  cross sectional
     spatial-unit id:  _ID (equal to iso)
         coordinates:  none
    linked shapefile:  none

. 
. *Generate a spatial matrix of the links created through the *entry of foreign
>  banks*
. spmatrix fromdata Wfbanks = rf07_1 - rf07_119, replace
  (weighting matrix contains 16 islands)

. *Generate a spatial matrix of the links created through *domestic banks going
>  abroad*
. spmatrix fromdata Wbankabroad = st07_1 - st07_119, replace
  (weighting matrix contains 45 islands)

. *Generate a spatial matrix of the links created through *competition for capi
> tal* 
. spmatrix fromdata Wsovsame = sov07_1 - sov07_119, replace
  (weighting matrix contains 36 islands)

. *Generate a spatial matrix of the links created through *joint network member
> ship* (measured as any shared network membership)
. spmatrix fromdata Wsamenet = net07_1 - net07_119, replace
  (weighting matrix contains 36 islands)

. *Generate a spatial matrix of the links created through *trade* 
. spmatrix fromdata Wtrade = trade07_1 - trade07_119, replace
  (weighting matrix contains 4 islands)

. *Drop the variables used to create the spatial matrices
. drop rf07_* st07_* sov07_* net07_* trade07_*

. 
. *Run models
. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wfbanks) errorlag(Wfbanks) force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrix defines 119 places)
  (you specified -force-)
  (weighting matrix matched 108 places in data)
  (weighting matrix Wfbanks_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .02903173
alternative:   GMM criterion =  .01030315
rescale:       GMM criterion =  .01030315
Iteration 0:   GMM criterion =  .01030315  
Iteration 1:   GMM criterion =    .009949  
Iteration 2:   GMM criterion =  .00994899  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .00382959  
Iteration 1:   GMM criterion =  .00167054  
Iteration 2:   GMM criterion =  .00166861  
Iteration 3:   GMM criterion =  .00166861  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(14)     =     207.20
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.6877

------------------------------------------------------------------------------
   bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
bii_index    |
Lprivcredit1 |    .018612   .0075208     2.47   0.013     .0038716    .0333524
Lfdi_in_gdp1 |   -.020509   .0248884    -0.82   0.410    -.0692894    .0282713
     Lpolity |    .054913   .0615675     0.89   0.372     -.065757     .175583
        Lcpi |  -.0708408   .0174668    -4.06   0.000     -.105075   -.0366065
       Lcbiw |    .021985   .0158259     1.39   0.165    -.0090331    .0530032
   Lbankcon1 |   .0302857   .0136142     2.22   0.026     .0036024    .0569691
   imf_iiiyr |  -1.043194   .6678106    -1.56   0.118    -2.352079    .2656908
             |
      region |
          0  |   1.558623   1.864079     0.84   0.403    -2.094905     5.21215
        EAP  |   1.854328   1.067102     1.74   0.082    -.2371537     3.94581
        ECA  |    3.83994   .9116817     4.21   0.000     2.053077    5.626804
       MENA  |   1.281721   1.242998     1.03   0.302    -1.154509    3.717951
         SA  |   3.884584   1.277494     3.04   0.002     1.380742    6.388427
        SSA  |   .5794771   .9134898     0.63   0.526     -1.21093    2.369884
             |
       _cons |   1.034558   2.238524     0.46   0.644    -3.352869    5.421985
-------------+----------------------------------------------------------------
Wfbanks_s001 |
   bii_index |   .1011483   .0748941     1.35   0.177    -.0456414     .247938
 e.bii_index |   .7008344   .5421184     1.29   0.196     -.361698    1.763367
------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 3.88       Prob > chi2 = 0.1439

. outreg2 using app6.doc, replace dec(3) sdec(3) ctitle(" ") drop(ib3.region) l
> abel onecol sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lb
> ankcon1 imf_iiiyr) addtext(Region dummies, YES)
app6.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wbankabroad) errorlag(Wbankabroad) force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrix defines 119 places)
  (you specified -force-)
  (weighting matrix matched 108 places in data)
  (weighting matrix Wbankabroad_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .03053369
alternative:   GMM criterion =  .01817859
rescale:       GMM criterion =  .01303158
Iteration 0:   GMM criterion =  .01303158  
Iteration 1:   GMM criterion =  .01215567  
Iteration 2:   GMM criterion =  .01215536  
Iteration 3:   GMM criterion =  .01215536  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .00258101  
Iteration 1:   GMM criterion =  .00125055  
Iteration 2:   GMM criterion =  .00125054  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(14)     =     190.08
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.6843

-------------------------------------------------------------------------------
---
       bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
bii_index        |
    Lprivcredit1 |   .0177425   .0080029     2.22   0.027      .002057    .0334
> 279
    Lfdi_in_gdp1 |  -.0143494   .0252071    -0.57   0.569    -.0637544    .0350
> 556
         Lpolity |   .0718265   .0617524     1.16   0.245    -.0492061     .192
> 859
            Lcpi |  -.0654527   .0181239    -3.61   0.000    -.1009749   -.0299
> 304
           Lcbiw |   .0205637   .0160732     1.28   0.201    -.0109392    .0520
> 665
       Lbankcon1 |    .024472   .0133644     1.83   0.067    -.0017218    .0506
> 657
       imf_iiiyr |  -1.081644   .6748945    -1.60   0.109    -2.404413    .2411
> 247
                 |
          region |
              0  |   1.863273   2.011643     0.93   0.354    -2.079475    5.806
> 021
            EAP  |   1.976787   1.054256     1.88   0.061    -.0895165     4.04
> 309
            ECA  |   4.131629   .8709567     4.74   0.000     2.424585    5.838
> 673
           MENA  |   1.343699   1.220987     1.10   0.271    -1.049392     3.73
> 679
             SA  |   3.700979   1.261489     2.93   0.003     1.228505    6.173
> 453
            SSA  |   .5743829    .896537     0.64   0.522    -1.182797    2.331
> 563
                 |
           _cons |   1.454959   2.233245     0.65   0.515     -2.92212    5.832
> 039
-----------------+-------------------------------------------------------------
---
Wbankabroad_s001 |
       bii_index |   .0090974   .0611232     0.15   0.882    -.1107019    .1288
> 967
     e.bii_index |   .4905382   .4542527     1.08   0.280    -.3997809    1.380
> 857
-------------------------------------------------------------------------------
---
Wald test of spatial terms:          chi2(2) = 1.22       Prob > chi2 = 0.5434

. outreg2 using app6.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app6.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wsamenet) errorlag(Wsamenet) force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrix defines 119 places)
  (you specified -force-)
  (weighting matrix matched 108 places in data)
  (weighting matrix Wsamenet_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .04630396
alternative:   GMM criterion =  .02815824
rescale:       GMM criterion =  .00182479
Iteration 0:   GMM criterion =  .00182479  
Iteration 1:   GMM criterion =  .00006046  
Iteration 2:   GMM criterion =  .00005871  
Iteration 3:   GMM criterion =  .00005871  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .01914986  
Iteration 1:   GMM criterion =   .0011448  
Iteration 2:   GMM criterion =  .00107627  
Iteration 3:   GMM criterion =  .00107624  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(14)     =     538.69
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.7175

-------------------------------------------------------------------------------
    bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
--------------+----------------------------------------------------------------
bii_index     |
 Lprivcredit1 |   .0241656   .0072624     3.33   0.001     .0099317    .0383996
 Lfdi_in_gdp1 |   -.013341   .0235997    -0.57   0.572    -.0595955    .0329136
      Lpolity |   .0369855   .0592229     0.62   0.532    -.0790893    .1530603
         Lcpi |  -.0817982   .0174933    -4.68   0.000    -.1160845   -.0475119
        Lcbiw |   .0171877   .0154554     1.11   0.266    -.0131043    .0474798
    Lbankcon1 |   .0216928   .0117477     1.85   0.065    -.0013323    .0447179
    imf_iiiyr |  -1.054697   .6490633    -1.62   0.104    -2.326838    .2174433
              |
       region |
           0  |   .8484786   1.963492     0.43   0.666    -2.999894    4.696852
         EAP  |   1.240889   .7218306     1.72   0.086     -.173873    2.655651
         ECA  |   3.569437   .5611586     6.36   0.000     2.469587    4.669288
        MENA  |   1.130819   .9454302     1.20   0.232    -.7221896    2.983829
          SA  |   3.199767    1.00609     3.18   0.001     1.227867    5.171668
         SSA  |   1.711212   .6345577     2.70   0.007     .4675021    2.954923
              |
        _cons |    1.67985   1.996079     0.84   0.400    -2.232393    5.592093
--------------+----------------------------------------------------------------
Wsamenet_s001 |
    bii_index |    .503912   .1163184     4.33   0.000     .2759321    .7318919
  e.bii_index |  -7.974697   4.096672    -1.95   0.052    -16.00403    .0546334
-------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 22.69      Prob > chi2 = 0.0000

. outreg2 using app6.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app6.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wsovsame) errorlag(Wsovsame) force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrix defines 119 places)
  (you specified -force-)
  (weighting matrix matched 108 places in data)
  (weighting matrix Wsovsame_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .07086267
alternative:   GMM criterion =  .00107136
rescale:       GMM criterion =  .00107136
Iteration 0:   GMM criterion =  .00107136  
Iteration 1:   GMM criterion =   .0002621  
Iteration 2:   GMM criterion =  .00026165  
Iteration 3:   GMM criterion =  .00026165  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .00549211  
Iteration 1:   GMM criterion =  .00458608  
Iteration 2:   GMM criterion =  .00458402  
Iteration 3:   GMM criterion =  .00458398  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(14)     =     143.52
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.6532

-------------------------------------------------------------------------------
    bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
--------------+----------------------------------------------------------------
bii_index     |
 Lprivcredit1 |   .0147193    .007629     1.93   0.054    -.0002332    .0296718
 Lfdi_in_gdp1 |  -.0076147   .0243707    -0.31   0.755    -.0553803    .0401509
      Lpolity |   .0890463   .0622129     1.43   0.152    -.0328887    .2109812
         Lcpi |  -.0518508    .022395    -2.32   0.021    -.0957442   -.0079574
        Lcbiw |   .0198476   .0156432     1.27   0.205    -.0108125    .0505077
    Lbankcon1 |   .0232358    .012281     1.89   0.058    -.0008346    .0473062
    imf_iiiyr |  -1.037409   .6628023    -1.57   0.118    -2.336478    .2616595
              |
       region |
           0  |   1.681528   1.974698     0.85   0.394    -2.188809    5.551865
         EAP  |   2.255471   1.005567     2.24   0.025     .2845957    4.226347
         ECA  |   3.974469   .8275618     4.80   0.000     2.352478    5.596461
        MENA  |   1.772815   1.177387     1.51   0.132     -.534821    4.080452
          SA  |   3.985222   1.233263     3.23   0.001     1.568071    6.402373
         SSA  |   .8331203   .8577679     0.97   0.331    -.8480738    2.514314
              |
        _cons |    .469565   2.440902     0.19   0.847    -4.314515    5.253645
--------------+----------------------------------------------------------------
Wsovsame_s001 |
    bii_index |   .3060209   .1889065     1.62   0.105    -.0642291    .6762708
  e.bii_index |   .6412507   .2408109     2.66   0.008     .1692701    1.113231
-------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 7.46       Prob > chi2 = 0.0240

. outreg2 using app6.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app6.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wtrade) errorlag(Wtrade) force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrix defines 119 places)
  (you specified -force-)
  (weighting matrix matched 108 places in data)
  (weighting matrix Wtrade_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =   .0069635
alternative:   GMM criterion =  .00412742
rescale:       GMM criterion =  .00343831
Iteration 0:   GMM criterion =  .00343831  
Iteration 1:   GMM criterion =   .0033579  
Iteration 2:   GMM criterion =  .00335784  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .00142893  
Iteration 1:   GMM criterion =  .00117727  
Iteration 2:   GMM criterion =   .0011767  
Iteration 3:   GMM criterion =   .0011767  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(14)     =     328.68
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.7091

------------------------------------------------------------------------------
   bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
bii_index    |
Lprivcredit1 |   .0165204   .0075646     2.18   0.029     .0016942    .0313467
Lfdi_in_gdp1 |  -.0118279   .0246701    -0.48   0.632    -.0601803    .0365246
     Lpolity |   .0465788   .0601275     0.77   0.439    -.0712689    .1644266
        Lcpi |  -.0468939   .0184979    -2.54   0.011     -.083149   -.0106388
       Lcbiw |   .0242441   .0156965     1.54   0.122    -.0065204    .0550086
   Lbankcon1 |   .0411308   .0134199     3.06   0.002     .0148284    .0674333
   imf_iiiyr |  -.9511982   .6559356    -1.45   0.147    -2.236808     .334412
             |
      region |
          0  |   1.059716   1.940631     0.55   0.585    -2.743851    4.863282
        EAP  |   1.071307   .9604771     1.12   0.265    -.8111932    2.953808
        ECA  |   3.807673   .6991305     5.45   0.000     2.437403    5.177944
       MENA  |   1.617042   1.069997     1.51   0.131     -.480113    3.714198
         SA  |   3.717725   1.134665     3.28   0.001     1.493823    5.941627
        SSA  |   .8767346   .7360273     1.19   0.234    -.5658525    2.319322
             |
       _cons |  -1.811818   2.349011    -0.77   0.441    -6.415796    2.792159
-------------+----------------------------------------------------------------
Wtrade_s001  |
   bii_index |   .2810738   .0886364     3.17   0.002     .1073496     .454798
 e.bii_index |  -1.172902   1.660708    -0.71   0.480    -4.427831    2.082026
------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 10.06      Prob > chi2 = 0.0065

. outreg2 using app6.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app6.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wfbanks) dvarlag(Wbankabroad) dvarlag(Wsam
> enet) dvarlag(Wsovsame) errorlag(Wfbanks) errorlag(Wbankabroad) errorlag(Wsam
> enet) errorlag(Wsovsame)  force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrices define 119 places)
  (you specified -force-)
  (weighting matrices matched 108 places in data)
  (weighting matrix Wfbanks_s001 created)
  (weighting matrix Wbankabroad_s001 created)
  (weighting matrix Wsamenet_s001 created)
  (weighting matrix Wsovsame_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .09869969
alternative:   GMM criterion =   .3639107
rescale:       GMM criterion =  .09775482
rescale eq:    GMM criterion =  .02357412
Iteration 0:   GMM criterion =  .02357412  
Iteration 1:   GMM criterion =  .00581174  
Iteration 2:   GMM criterion =  .00472817  
Iteration 3:   GMM criterion =    .004713  
Iteration 4:   GMM criterion =  .00471157  
Iteration 5:   GMM criterion =  .00471144  
Iteration 6:   GMM criterion =  .00471143  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .02062878  
Iteration 1:   GMM criterion =  .01768134  
Iteration 2:   GMM criterion =  .01023047  
Iteration 3:   GMM criterion =  .00887396  
Iteration 4:   GMM criterion =   .0084449  
Iteration 5:   GMM criterion =  .00831808  
Iteration 6:   GMM criterion =  .00825489  
Iteration 7:   GMM criterion =  .00822433  
Iteration 8:   GMM criterion =  .00820416  
Iteration 9:   GMM criterion =  .00819271  
Iteration 10:  GMM criterion =  .00818478  
Iteration 11:  GMM criterion =  .00817995  
Iteration 12:  GMM criterion =  .00817659  
Iteration 13:  GMM criterion =  .00817447  
Iteration 14:  GMM criterion =  .00817301  
Iteration 15:  GMM criterion =  .00817206  
Iteration 16:  GMM criterion =  .00817141  
Iteration 17:  GMM criterion =  .00817099  
Iteration 18:  GMM criterion =   .0081707  
Iteration 19:  GMM criterion =  .00817051  
Iteration 20:  GMM criterion =  .00817038  
Iteration 21:  GMM criterion =  .00817029  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(17)     =     866.08
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.7229

-------------------------------------------------------------------------------
---
       bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
bii_index        |
    Lprivcredit1 |   .0195996   .0072308     2.71   0.007     .0054275    .0337
> 716
    Lfdi_in_gdp1 |  -.0297681   .0229502    -1.30   0.195    -.0747497    .0152
> 134
         Lpolity |   .0369374   .0601243     0.61   0.539    -.0809041    .1547
> 789
            Lcpi |  -.0742536   .0211714    -3.51   0.000    -.1157489   -.0327
> 584
           Lcbiw |   .0203612   .0154473     1.32   0.187    -.0099149    .0506
> 372
       Lbankcon1 |   .0333876   .0137051     2.44   0.015     .0065261    .0602
> 491
       imf_iiiyr |  -.9808312   .6731217    -1.46   0.145    -2.300125     .338
> 463
                 |
          region |
              0  |  -1.083929   1.808707    -0.60   0.549    -4.628929    2.461
> 072
            EAP  |   1.448977   .7116189     2.04   0.042     .0542297    2.843
> 724
            ECA  |   3.351202   .5894296     5.69   0.000     2.195941    4.506
> 463
           MENA  |   1.103938   .9671166     1.14   0.254    -.7915759    2.999
> 451
             SA  |   3.559067   1.038208     3.43   0.001     1.524216    5.593
> 918
            SSA  |    1.37277   .6318457     2.17   0.030      .134375    2.611
> 164
                 |
           _cons |    .211274   2.337964     0.09   0.928    -4.371051    4.793
> 599
-----------------+-------------------------------------------------------------
---
Wfbanks_s001     |
       bii_index |   .0314167   .0577012     0.54   0.586    -.0816756     .144
> 509
     e.bii_index |   1.158021   2.418231     0.48   0.632    -3.581625    5.897
> 666
-----------------+-------------------------------------------------------------
---
Wbankabroad_s001 |
       bii_index |    .073778    .045011     1.64   0.101    -.0144419    .1619
> 979
     e.bii_index |  -.1007061   1.993218    -0.05   0.960    -4.007342     3.80
> 593
-----------------+-------------------------------------------------------------
---
Wsamenet_s001    |
       bii_index |   .4999092   .1257038     3.98   0.000     .2535343    .7462
> 842
     e.bii_index |  -6.557486   5.752789    -1.14   0.254    -17.83274    4.717
> 772
-----------------+-------------------------------------------------------------
---
Wsovsame_s001    |
       bii_index |   .0780376   .1170374     0.67   0.505    -.1513515    .3074
> 266
     e.bii_index |  -.4574145   1.041899    -0.44   0.661    -2.499499     1.58
> 467
-------------------------------------------------------------------------------
---
Wald test of spatial terms:          chi2(8) = 28.66      Prob > chi2 = 0.0004

. outreg2 using app6.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app6.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wfbanks) dvarlag(Wbankabroad) dvarlag(Wsam
> enet) dvarlag(Wsovsame) dvarlag(Wtrade) errorlag(Wfbanks) errorlag(Wbankabroa
> d) errorlag(Wsamenet) errorlag(Wsovsame)  errorlag(Wtrade) force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrices define 119 places)
  (you specified -force-)
  (weighting matrices matched 108 places in data)
  (weighting matrix Wfbanks_s001 created)
  (weighting matrix Wbankabroad_s001 created)
  (weighting matrix Wsamenet_s001 created)
  (weighting matrix Wsovsame_s001 created)
  (weighting matrix Wtrade_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .09586833
alternative:   GMM criterion =  .29867313
rescale:       GMM criterion =  .08555804
rescale eq:    GMM criterion =  .02817889
Iteration 0:   GMM criterion =  .02817889  
Iteration 1:   GMM criterion =  .02559324  
Iteration 2:   GMM criterion =  .00374056  
Iteration 3:   GMM criterion =  .00361363  
Iteration 4:   GMM criterion =  .00361337  
Iteration 5:   GMM criterion =  .00361336  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .01731672  
Iteration 1:   GMM criterion =  .01166188  
Iteration 2:   GMM criterion =  .00934561  
Iteration 3:   GMM criterion =  .00921387  
Iteration 4:   GMM criterion =  .00918938  
Iteration 5:   GMM criterion =  .00918597  
Iteration 6:   GMM criterion =   .0091854  
Iteration 7:   GMM criterion =  .00918532  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(18)     =    1168.89
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.7448

-------------------------------------------------------------------------------
---
       bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
bii_index        |
    Lprivcredit1 |   .0204466   .0069897     2.93   0.003      .006747    .0341
> 463
    Lfdi_in_gdp1 |  -.0262464   .0225192    -1.17   0.244    -.0703832    .0178
> 903
         Lpolity |   .0248799     .05809     0.43   0.668    -.0889744    .1387
> 342
            Lcpi |  -.0610374   .0211246    -2.89   0.004    -.1024409   -.0196
> 339
           Lcbiw |   .0233157   .0151481     1.54   0.124    -.0063739    .0530
> 054
       Lbankcon1 |   .0400651    .013534     2.96   0.003     .0135389    .0665
> 912
       imf_iiiyr |   -.865056   .6587535    -1.31   0.189    -2.156189    .4260
> 771
                 |
          region |
              0  |  -1.025735    1.76807    -0.58   0.562    -4.491089    2.439
> 618
            EAP  |    .449266    .747675     0.60   0.548     -1.01615    1.914
> 682
            ECA  |   2.981846   .5586571     5.34   0.000     1.886898    4.076
> 794
           MENA  |    .764099   .9258444     0.83   0.409    -1.050523    2.578
> 721
             SA  |   3.065638   1.000355     3.06   0.002     1.104978    5.026
> 298
            SSA  |   1.462211   .5921535     2.47   0.014      .301611     2.62
> 281
                 |
           _cons |  -1.520628   2.357648    -0.64   0.519    -6.141534    3.100
> 277
-----------------+-------------------------------------------------------------
---
Wfbanks_s001     |
       bii_index |  -.0300491    .061043    -0.49   0.623    -.1496913    .0895
> 931
     e.bii_index |   .6710185   1.479073     0.45   0.650    -2.227911    3.569
> 948
-----------------+-------------------------------------------------------------
---
Wbankabroad_s001 |
       bii_index |   .0301619   .0469509     0.64   0.521    -.0618601    .1221
> 839
     e.bii_index |   .0486283   1.636432     0.03   0.976     -3.15872    3.255
> 976
-----------------+-------------------------------------------------------------
---
Wsamenet_s001    |
       bii_index |   .5566168    .116031     4.80   0.000     .3292003    .7840
> 333
     e.bii_index |  -5.547764   4.292457    -1.29   0.196    -13.96082    2.865
> 296
-----------------+-------------------------------------------------------------
---
Wsovsame_s001    |
       bii_index |   .0677262      .1095     0.62   0.536    -.1468898    .2823
> 421
     e.bii_index |  -.6987233   .9147741    -0.76   0.445    -2.491648    1.094
> 201
-----------------+-------------------------------------------------------------
---
Wtrade_s001      |
       bii_index |   .2220777   .0868241     2.56   0.011     .0519057    .3922
> 498
     e.bii_index |   .4362995   2.604742     0.17   0.867      -4.6689    5.541
> 499
-------------------------------------------------------------------------------
---
Wald test of spatial terms:          chi2(10) = 46.55     Prob > chi2 = 0.0000

. outreg2 using app6.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app6.doc
dir : seeout

. 
. ******
. 
. *Table A7: Spatial-GMM model of extent of Basel II adoption in 2008, estimati
> on sample shrunk to include only those outside the Basel committee
. *Keep 2008 and only relevant observations
. use "AA-workingdata.dta", replace

. keep if year==2008
(2,705 observations deleted)

. drop year

. drop if rfnB07_1==.
(51 observations deleted)

. 
. *spset the data for spatial analysis. iso is the unit identifier.
. xtset, clear

. spset, clear

. spset iso
  Sp dataset AA-workingdata.dta
                data:  cross sectional
     spatial-unit id:  _ID (equal to iso)
         coordinates:  none
    linked shapefile:  none

. 
. *Generate a spatial matrix of the links created through the *entry of foreign
>  banks*
. spmatrix fromdata Wfbanks = rfnB07_1 - rfnB07_107, replace
  (weighting matrix contains 27 islands)

. *Generate a spatial matrix of the links created through *domestic banks going
>  abroad*
. spmatrix fromdata Wbankabroad = stnB07_1 - stnB07_107, replace
  (weighting matrix contains 45 islands)

. *Generate a spatial matrix of the links created through *competition for capi
> tal* 
. spmatrix fromdata Wsovsame = sovnB07_1 - sovnB07_107, replace
  (weighting matrix contains 36 islands)

. *Generate a spatial matrix of the links created through *joint network member
> ship* (measured as any shared network membership)
. spmatrix fromdata Wsamenet = netnB07_1 - netnB07_107, replace
  (weighting matrix contains 31 islands)

. *Generate a spatial matrix of the links created through *trade* 
. spmatrix fromdata Wtrade = tradenB07_1 - tradenB07_107, replace
  (weighting matrix contains 4 islands)

. *Drop the variables used to create the spatial matrices
. drop rfnB07_* stnB07_* sovnB07_* netnB07_* tradenB07_*

. 
. *Run models
. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wfbanks) errorlag(Wfbanks) force
  (107 observations)
  (11 observations excluded due to missing values)
  (96 observations (places) used)
  (weighting matrix defines 107 places)
  (you specified -force-)
  (weighting matrix matched 96 places in data)
  (weighting matrix Wfbanks_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .26652038
alternative:   GMM criterion =   .8640981
rescale:       GMM criterion =  .26652038
Iteration 0:   GMM criterion =  .26652038  
Iteration 1:   GMM criterion =  .26437791  
Iteration 2:   GMM criterion =  .26437791  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .00940329  
Iteration 1:   GMM criterion =  .00728109  
Iteration 2:   GMM criterion =  .00727899  
Iteration 3:   GMM criterion =  .00727899  

Spatial autoregressive model                    Number of obs     =         96
GS2SLS estimates                                Wald chi2(13)     =     175.99
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.6374

------------------------------------------------------------------------------
   bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
bii_index    |
Lprivcredit1 |    .021959   .0087577     2.51   0.012     .0047943    .0391236
Lfdi_in_gdp1 |   .0098029   .0397981     0.25   0.805       -.0682    .0878057
     Lpolity |   .0245428   .0659168     0.37   0.710    -.1046516    .1537373
        Lcpi |  -.0692867   .0202107    -3.43   0.001    -.1088989   -.0296745
       Lcbiw |   .0252839   .0177708     1.42   0.155    -.0095462     .060114
   Lbankcon1 |   .0327654   .0142708     2.30   0.022     .0047951    .0607356
   imf_iiiyr |  -1.049426   .7058154    -1.49   0.137    -2.432798    .3339473
             |
      region |
        EAP  |   1.183434   1.064423     1.11   0.266    -.9027979    3.269665
        ECA  |   2.999352   .9454576     3.17   0.002     1.146289    4.852415
       MENA  |   .8910313   1.217848     0.73   0.464    -1.495906    3.277969
         SA  |   3.905273   1.259649     3.10   0.002     1.436407    6.374139
        SSA  |   .2303002   .8924187     0.26   0.796    -1.518808    1.979409
             |
       _cons |    .461045   2.472978     0.19   0.852    -4.385902    5.307992
-------------+----------------------------------------------------------------
Wfbanks_s001 |
   bii_index |   .1365209   .0572531     2.38   0.017     .0243068    .2487349
 e.bii_index |   .1154223   .3276348     0.35   0.725      -.52673    .7575747
------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 6.60       Prob > chi2 = 0.0368

. outreg2 using app7.doc, replace dec(3) sdec(3) ctitle(" ") drop(ib3.region) l
> abel onecol sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lb
> ankcon1 imf_iiiyr) addtext(Region dummies, YES)
app7.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wbankabroad) errorlag(Wbankabroad) force
  (107 observations)
  (11 observations excluded due to missing values)
  (96 observations (places) used)
  (weighting matrix defines 107 places)
  (you specified -force-)
  (weighting matrix matched 96 places in data)
  (weighting matrix Wbankabroad_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =   .2428285
alternative:   GMM criterion =  .51183742
rescale:       GMM criterion =  .07594213
Iteration 0:   GMM criterion =  .07594213  
Iteration 1:   GMM criterion =  .05848296  
Iteration 2:   GMM criterion =   .0584794  
Iteration 3:   GMM criterion =   .0584794  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .00311904  
Iteration 1:   GMM criterion =  .00132048  
Iteration 2:   GMM criterion =  .00131919  
Iteration 3:   GMM criterion =  .00131919  

Spatial autoregressive model                    Number of obs     =         96
GS2SLS estimates                                Wald chi2(13)     =     136.33
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.6174

-------------------------------------------------------------------------------
---
       bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
bii_index        |
    Lprivcredit1 |   .0202646   .0090043     2.25   0.024     .0026164    .0379
> 127
    Lfdi_in_gdp1 |   .0134698   .0403622     0.33   0.739    -.0656387    .0925
> 783
         Lpolity |   .0758759    .064039     1.18   0.236    -.0496384    .2013
> 901
            Lcpi |  -.0525673   .0211255    -2.49   0.013    -.0939725   -.0111
> 621
           Lcbiw |   .0230967   .0175735     1.31   0.189    -.0113468    .0575
> 402
       Lbankcon1 |   .0301465   .0147484     2.04   0.041     .0012402    .0590
> 528
       imf_iiiyr |  -1.165046   .7170547    -1.62   0.104    -2.570447    .2403
> 553
                 |
          region |
            EAP  |   1.684012   1.156912     1.46   0.146    -.5834926    3.951
> 517
            ECA  |   3.896438   .9493145     4.10   0.000     2.035816     5.75
> 706
           MENA  |   1.202578   1.309224     0.92   0.358    -1.363455    3.768
> 611
             SA  |   3.691226   1.337163     2.76   0.006     1.070435    6.312
> 016
            SSA  |   .3097424   .9617085     0.32   0.747    -1.575172    2.194
> 656
                 |
           _cons |  -.2252505   2.708732    -0.08   0.934    -5.534267    5.083
> 766
-----------------+-------------------------------------------------------------
---
Wbankabroad_s001 |
       bii_index |   .0225846   .0522721     0.43   0.666    -.0798669     .125
> 036
     e.bii_index |    .266291   .2060697     1.29   0.196    -.1375983    .6701
> 803
-------------------------------------------------------------------------------
---
Wald test of spatial terms:          chi2(2) = 2.12       Prob > chi2 = 0.3463

. outreg2 using app7.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app7.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wsamenet) errorlag(Wsamenet) force
  (107 observations)
  (11 observations excluded due to missing values)
  (96 observations (places) used)
  (weighting matrix defines 107 places)
  (you specified -force-)
  (weighting matrix matched 96 places in data)
  (weighting matrix Wsamenet_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .08620769
alternative:   GMM criterion =  .05586378
rescale:       GMM criterion =  .00039483
Iteration 0:   GMM criterion =  .00039483  
Iteration 1:   GMM criterion =  .00006547  
Iteration 2:   GMM criterion =  .00006543  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .02456923  
Iteration 1:   GMM criterion =  .00081262  
Iteration 2:   GMM criterion =  .00076375  
Iteration 3:   GMM criterion =  .00076375  

Spatial autoregressive model                    Number of obs     =         96
GS2SLS estimates                                Wald chi2(13)     =     679.31
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.6700

-------------------------------------------------------------------------------
    bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
--------------+----------------------------------------------------------------
bii_index     |
 Lprivcredit1 |   .0299009   .0081747     3.66   0.000     .0138789     .045923
 Lfdi_in_gdp1 |  -.0104102   .0393812    -0.26   0.792     -.087596    .0667755
      Lpolity |   .0366823   .0600332     0.61   0.541    -.0809806    .1543451
         Lcpi |  -.0690569   .0186406    -3.70   0.000    -.1055919    -.032522
        Lcbiw |   .0190787   .0170414     1.12   0.263    -.0143219    .0524792
    Lbankcon1 |   .0305944   .0134339     2.28   0.023     .0042645    .0569243
    imf_iiiyr |  -.8382378   .6808038    -1.23   0.218    -2.172589    .4961132
              |
       region |
         EAP  |   .4700572    .767948     0.61   0.540    -1.035093    1.975208
         ECA  |   2.369981   .6781244     3.49   0.000     1.040882    3.699081
        MENA  |   .5558127    .951384     0.58   0.559    -1.308866    2.420491
          SA  |   2.501704    1.05075     2.38   0.017     .4422724    4.561136
         SSA  |   1.152801   .5882846     1.96   0.050    -.0002153    2.305818
              |
        _cons |   .4108305   2.286447     0.18   0.857    -4.070523    4.892184
--------------+----------------------------------------------------------------
Wsamenet_s001 |
    bii_index |   .5191717   .1119129     4.64   0.000     .2998263     .738517
  e.bii_index |  -9.357737   5.344416    -1.75   0.080     -19.8326    1.117126
-------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 24.59      Prob > chi2 = 0.0000

. outreg2 using app7.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app7.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wsovsame) errorlag(Wsovsame) force
  (107 observations)
  (11 observations excluded due to missing values)
  (96 observations (places) used)
  (weighting matrix defines 107 places)
  (you specified -force-)
  (weighting matrix matched 96 places in data)
  (weighting matrix Wsovsame_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .01295608
alternative:   GMM criterion =  .15745542
rescale:       GMM criterion =  .01099273
Iteration 0:   GMM criterion =  .01099273  
Iteration 1:   GMM criterion =  .01081806  
Iteration 2:   GMM criterion =  .01081806  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .04132848  
Iteration 1:   GMM criterion =  .03968048  
Iteration 2:   GMM criterion =  .03965987  
Iteration 3:   GMM criterion =  .03965897  
Iteration 4:   GMM criterion =  .03965893  

Spatial autoregressive model                    Number of obs     =         96
GS2SLS estimates                                Wald chi2(13)     =     169.33
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.5848

-------------------------------------------------------------------------------
    bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
--------------+----------------------------------------------------------------
bii_index     |
 Lprivcredit1 |   .0214844   .0087797     2.45   0.014     .0042765    .0386923
 Lfdi_in_gdp1 |   .0149611   .0396777     0.38   0.706    -.0628057     .092728
      Lpolity |   .0834584   .0642286     1.30   0.194    -.0424274    .2093442
         Lcpi |  -.0275255   .0220223    -1.25   0.211    -.0706883    .0156373
        Lcbiw |   .0188874   .0176495     1.07   0.285    -.0157049    .0534797
    Lbankcon1 |   .0285275   .0138754     2.06   0.040     .0013322    .0557227
    imf_iiiyr |  -.8102772   .7149462    -1.13   0.257    -2.211546    .5909916
              |
       region |
         EAP  |   1.925094   1.053042     1.83   0.068    -.1388306    3.989018
         ECA  |   3.409229   .8799032     3.87   0.000     1.684651    5.133808
        MENA  |   1.877587   1.213855     1.55   0.122    -.5015255    4.256699
          SA  |   4.075967   1.275204     3.20   0.001     1.576612    6.575321
         SSA  |   .7896031   .8760765     0.90   0.367    -.9274753    2.506681
              |
        _cons |  -2.264101   2.649551    -0.85   0.393    -7.457126    2.928923
--------------+----------------------------------------------------------------
Wsovsame_s001 |
    bii_index |   .5436493   .1663724     3.27   0.001     .2175654    .8697333
  e.bii_index |   .1450398   .2877665     0.50   0.614    -.4189721    .7090518
-------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 11.84      Prob > chi2 = 0.0027

. outreg2 using app7.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app7.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wtrade) errorlag(Wtrade) force
  (107 observations)
  (11 observations excluded due to missing values)
  (96 observations (places) used)
  (weighting matrix defines 107 places)
  (you specified -force-)
  (weighting matrix matched 96 places in data)
  (weighting matrix Wtrade_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .01304692
alternative:   GMM criterion =  .00269891
rescale:       GMM criterion =  .00269891
Iteration 0:   GMM criterion =  .00269891  
Iteration 1:   GMM criterion =  .00191227  
Iteration 2:   GMM criterion =  .00191226  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .00216679  
Iteration 1:   GMM criterion =  .00002678  
Iteration 2:   GMM criterion =  .00001992  
Iteration 3:   GMM criterion =  .00001992  

Spatial autoregressive model                    Number of obs     =         96
GS2SLS estimates                                Wald chi2(13)     =     248.73
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.6520

------------------------------------------------------------------------------
   bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
bii_index    |
Lprivcredit1 |   .0207261    .008772     2.36   0.018     .0035334    .0379189
Lfdi_in_gdp1 |   .0283504   .0392683     0.72   0.470     -.048614    .1053148
     Lpolity |   .0438011   .0626217     0.70   0.484    -.0789352    .1665374
        Lcpi |  -.0414518   .0206469    -2.01   0.045    -.0819189   -.0009847
       Lcbiw |    .025515   .0174916     1.46   0.145    -.0087679    .0597979
   Lbankcon1 |   .0415472   .0149823     2.77   0.006     .0121824     .070912
   imf_iiiyr |  -1.052675   .6954825    -1.51   0.130    -2.415796    .3104454
             |
      region |
        EAP  |   .7654181   1.015702     0.75   0.451    -1.225322    2.756158
        ECA  |   3.390891    .749875     4.52   0.000     1.921163    4.860619
       MENA  |   1.420365   1.108252     1.28   0.200    -.7517687    3.592499
         SA  |   3.723165   1.180303     3.15   0.002     1.409813    6.036517
        SSA  |   .8704939   .7564127     1.15   0.250    -.6120477    2.353036
             |
       _cons |  -2.606635   2.717134    -0.96   0.337     -7.93212     2.71885
-------------+----------------------------------------------------------------
Wtrade_s001  |
   bii_index |   .2923906   .0939917     3.11   0.002     .1081701     .476611
 e.bii_index |  -1.152526   1.015711    -1.13   0.257    -3.143283    .8382315
------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 9.77       Prob > chi2 = 0.0076

. outreg2 using app7.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app7.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wfbanks) dvarlag(Wbankabroad) dvarlag(Wsam
> enet) dvarlag(Wsovsame) errorlag(Wfbanks) errorlag(Wbankabroad) errorlag(Wsam
> enet) errorlag(Wsovsame)  force
  (107 observations)
  (11 observations excluded due to missing values)
  (96 observations (places) used)
  (weighting matrices define 107 places)
  (you specified -force-)
  (weighting matrices matched 96 places in data)
  (weighting matrix Wfbanks_s001 created)
  (weighting matrix Wbankabroad_s001 created)
  (weighting matrix Wsamenet_s001 created)
  (weighting matrix Wsovsame_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =   .5737475
alternative:   GMM criterion =  5.7396531
rescale:       GMM criterion =   .5737475
rescale eq:    GMM criterion =   .5737475
Iteration 0:   GMM criterion =   .5737475  
Iteration 1:   GMM criterion =  .25454515  
Iteration 2:   GMM criterion =  .00867399  
Iteration 3:   GMM criterion =   .0081007  
Iteration 4:   GMM criterion =  .00810061  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .04037329  
Iteration 1:   GMM criterion =  .00810473  
Iteration 2:   GMM criterion =  .00637732  
Iteration 3:   GMM criterion =  .00636783  
Iteration 4:   GMM criterion =  .00636771  
Iteration 5:   GMM criterion =  .00636771  

Spatial autoregressive model                    Number of obs     =         96
GS2SLS estimates                                Wald chi2(16)     =     839.73
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.6920

-------------------------------------------------------------------------------
---
       bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
bii_index        |
    Lprivcredit1 |   .0264244   .0078291     3.38   0.001     .0110797     .041
> 769
    Lfdi_in_gdp1 |  -.0224147   .0379828    -0.59   0.555    -.0968595    .0520
> 302
         Lpolity |   .0553265   .0574104     0.96   0.335    -.0571958    .1678
> 488
            Lcpi |  -.0392007   .0189001    -2.07   0.038    -.0762443   -.0021
> 571
           Lcbiw |   .0258085   .0166357     1.55   0.121    -.0067968    .0584
> 138
       Lbankcon1 |   .0495395   .0138186     3.58   0.000     .0224555    .0766
> 235
       imf_iiiyr |  -.6731603   .6724614    -1.00   0.317     -1.99116    .6448
> 398
                 |
          region |
            EAP  |   .5217396   .7251816     0.72   0.472    -.8995903     1.94
> 307
            ECA  |    1.57252   .7127714     2.21   0.027     .1755137    2.969
> 526
           MENA  |   .8084471   .9431046     0.86   0.391    -1.040004    2.656
> 898
             SA  |   2.800252   1.043729     2.68   0.007     .7545814    4.845
> 924
            SSA  |   .8445917   .6037888     1.40   0.162    -.3388127    2.027
> 996
                 |
           _cons |  -3.861463   2.331988    -1.66   0.098    -8.432075    .7091
> 486
-----------------+-------------------------------------------------------------
---
Wfbanks_s001     |
       bii_index |   .0178334   .0539156     0.33   0.741    -.0878392     .123
> 506
     e.bii_index |  -.2796564   .3991429    -0.70   0.484    -1.061962    .5026
> 494
-----------------+-------------------------------------------------------------
---
Wbankabroad_s001 |
       bii_index |   .0671063   .0480945     1.40   0.163    -.0271571    .1613
> 697
     e.bii_index |   .6897926   .8210624     0.84   0.401    -.9194601    2.299
> 045
-----------------+-------------------------------------------------------------
---
Wsamenet_s001    |
       bii_index |   .5555561   .1242085     4.47   0.000     .3121119    .7990
> 002
     e.bii_index |   -7.86393   4.336035    -1.81   0.070     -16.3624    .6345
> 427
-----------------+-------------------------------------------------------------
---
Wsovsame_s001    |
       bii_index |   .3785887   .1299096     2.91   0.004     .1239705    .6332
> 069
     e.bii_index |  -1.154241   .9878312    -1.17   0.243    -3.090355    .7818
> 725
-------------------------------------------------------------------------------
---
Wald test of spatial terms:          chi2(8) = 54.59      Prob > chi2 = 0.0000

. outreg2 using app7.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app7.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wfbanks) dvarlag(Wbankabroad) dvarlag(Wsam
> enet) dvarlag(Wsovsame) dvarlag(Wtrade) errorlag(Wfbanks) errorlag(Wbankabroa
> d) errorlag(Wsamenet) errorlag(Wsovsame)  errorlag(Wtrade) force
  (107 observations)
  (11 observations excluded due to missing values)
  (96 observations (places) used)
  (weighting matrices define 107 places)
  (you specified -force-)
  (weighting matrices matched 96 places in data)
  (weighting matrix Wfbanks_s001 created)
  (weighting matrix Wbankabroad_s001 created)
  (weighting matrix Wsamenet_s001 created)
  (weighting matrix Wsovsame_s001 created)
  (weighting matrix Wtrade_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .69939311
alternative:   GMM criterion =  6.3919512
rescale:       GMM criterion =  .69939311
rescale eq:    GMM criterion =  .69939311
Iteration 0:   GMM criterion =  .69939311  
Iteration 1:   GMM criterion =  .69230867  
Iteration 2:   GMM criterion =  .01762064  
Iteration 3:   GMM criterion =  .01228717  
Iteration 4:   GMM criterion =  .01224562  
Iteration 5:   GMM criterion =  .01224553  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .05767283  
Iteration 1:   GMM criterion =   .0086621  
Iteration 2:   GMM criterion =  .00803023  
Iteration 3:   GMM criterion =  .00801535  
Iteration 4:   GMM criterion =  .00801463  
Iteration 5:   GMM criterion =  .00801458  

Spatial autoregressive model                    Number of obs     =         96
GS2SLS estimates                                Wald chi2(17)     =    1164.27
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.7101

-------------------------------------------------------------------------------
---
       bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
bii_index        |
    Lprivcredit1 |   .0281319   .0074573     3.77   0.000     .0135158     .042
> 748
    Lfdi_in_gdp1 |  -.0105043   .0374145    -0.28   0.779    -.0838354    .0628
> 269
         Lpolity |   .0463625   .0563378     0.82   0.411    -.0640576    .1567
> 826
            Lcpi |  -.0372758   .0190041    -1.96   0.050    -.0745231   -.0000
> 286
           Lcbiw |    .027604   .0161881     1.71   0.088    -.0041241    .0593
> 322
       Lbankcon1 |   .0495482   .0139882     3.54   0.000     .0221317    .0769
> 646
       imf_iiiyr |  -.6009396   .6657788    -0.90   0.367    -1.905842    .7039
> 628
                 |
          region |
            EAP  |   .2294553   .7148689     0.32   0.748    -1.171662    1.630
> 573
            ECA  |   1.657546   .6648638     2.49   0.013     .3544367    2.960
> 655
           MENA  |   .8838378   .8550399     1.03   0.301    -.7920097    2.559
> 685
             SA  |   2.640686   .9861626     2.68   0.007     .7078428    4.573
> 529
            SSA  |   .9836723   .5617821     1.75   0.080    -.1174005    2.084
> 745
                 |
           _cons |  -4.274932   2.344023    -1.82   0.068    -8.869133    .3192
> 686
-----------------+-------------------------------------------------------------
---
Wfbanks_s001     |
       bii_index |   .0007092   .0560935     0.01   0.990     -.109232    .1106
> 505
     e.bii_index |   .4108459    .315138     1.30   0.192    -.2068133    1.028
> 505
-----------------+-------------------------------------------------------------
---
Wbankabroad_s001 |
       bii_index |   .0423817   .0485613     0.87   0.383    -.0527967      .13
> 756
     e.bii_index |  -.3071876   .5610293    -0.55   0.584    -1.406785    .7924
> 096
-----------------+-------------------------------------------------------------
---
Wsamenet_s001    |
       bii_index |   .5075674   .1230556     4.12   0.000     .2663829    .7487
> 519
     e.bii_index |  -10.29979   5.444269    -1.89   0.059    -20.97036    .3707
> 849
-----------------+-------------------------------------------------------------
---
Wsovsame_s001    |
       bii_index |   .3044034   .1344001     2.26   0.024     .0409841    .5678
> 228
     e.bii_index |  -1.103105   .7013821    -1.57   0.116    -2.477789    .2715
> 786
-----------------+-------------------------------------------------------------
---
Wtrade_s001      |
       bii_index |   .1304097    .083311     1.57   0.118    -.0328769    .2936
> 962
     e.bii_index |   -.291259   1.843836    -0.16   0.874     -3.90511    3.322
> 592
-------------------------------------------------------------------------------
---
Wald test of spatial terms:          chi2(10) = 68.93     Prob > chi2 = 0.0000

. outreg2 using app7.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app7.doc
dir : seeout

. 
. 
. ******
. *Table A8: Spatial-GMM model of extent of Basel II adoption in 2013, estimati
> on sample expanded to include Basel Committee Members
. 
. *Keep 2008 and only relevant observations
. use "AA-workingdata.dta", replace

. keep if year==2013
(2,703 observations deleted)

. drop year 

. drop if rf12_1==.
(41 observations deleted)

. 
. *spset the data for spatial analysis. iso is the unit identifier.
. xtset, clear

. spset, clear

. spset iso
  Sp dataset AA-workingdata.dta
                data:  cross sectional
     spatial-unit id:  _ID (equal to iso)
         coordinates:  none
    linked shapefile:  none

. 
. *Generate a spatial matrix of the links created through the *entry of foreign
>  banks*
. spmatrix fromdata Wfbanks = rf12_1 - rf12_119, replace
  (weighting matrix contains 15 islands)

. *Generate a spatial matrix of the links created through *domestic banks going
>  abroad*
. spmatrix fromdata Wbankabroad = st12_1 - st12_119, replace
  (weighting matrix contains 43 islands)

. *Generate a spatial matrix of the links created through *competition for capi
> tal* 
. spmatrix fromdata Wsovsame = sov12_1 - sov12_119, replace
  (weighting matrix contains 40 islands)

. *Generate a spatial matrix of the links created through *joint network member
> ship* (measured as any shared network membership)
. spmatrix fromdata Wsamenet = net12_1 - net12_119, replace
  (weighting matrix contains 33 islands)

. *Generate a spatial matrix of the links created through *trade* 
. spmatrix fromdata Wtrade = trade12_1 - trade12_119, replace
  (weighting matrix contains 2 islands)

. *Drop the variables used to create the spatial matrices
. drop rf12_* st12_* sov12_* net12_* trade12_*

. 
. *Run models
. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wfbanks) errorlag(Wfbanks) force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrix defines 119 places)
  (you specified -force-)
  (weighting matrix matched 108 places in data)
  (weighting matrix Wfbanks_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .03870043
alternative:   GMM criterion =  .00594293
rescale:       GMM criterion =  .00594293
Iteration 0:   GMM criterion =  .00594293  
Iteration 1:   GMM criterion =  .00594129  
Iteration 2:   GMM criterion =  .00594129  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =   .0010349  
Iteration 1:   GMM criterion =  .00103116  
Iteration 2:   GMM criterion =  .00103116  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(14)     =     214.45
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.5986

------------------------------------------------------------------------------
   bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
bii_index    |
Lprivcredit1 |   .0295162    .007809     3.78   0.000     .0142109    .0448215
Lfdi_in_gdp1 |  -.0960414   .0427339    -2.25   0.025    -.1797983   -.0122845
     Lpolity |   .0358578     .06578     0.55   0.586    -.0930687    .1647843
        Lcpi |  -.0461497   .0186064    -2.48   0.013    -.0826176   -.0096817
       Lcbiw |   .0342569   .0173581     1.97   0.048     .0002355    .0682782
   Lbankcon1 |   .0092806   .0139204     0.67   0.505    -.0180029     .036564
   imf_iiiyr |  -.5112947   .6037759    -0.85   0.397    -1.694674    .6720843
             |
      region |
          0  |   1.190096   2.090576     0.57   0.569    -2.907358    5.287549
        EAP  |   2.153037   .9725698     2.21   0.027      .246835    4.059239
        ECA  |    2.40763    .785381     3.07   0.002     .8683119    3.946949
       MENA  |   1.882913    1.13288     1.66   0.097    -.3374918    4.103317
         SA  |   3.364079   1.183771     2.84   0.004      1.04393    5.684227
        SSA  |   .7625114   .8035918     0.95   0.343    -.8124995    2.337522
             |
       _cons |   1.180412   2.198152     0.54   0.591    -3.127887    5.488712
-------------+----------------------------------------------------------------
Wfbanks_s001 |
   bii_index |    .130817   .0626561     2.09   0.037     .0080133    .2536206
 e.bii_index |   -.485046   .5683274    -0.85   0.393    -1.598947    .6288553
------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 5.67       Prob > chi2 = 0.0587

. outreg2 using app8.doc, replace dec(3) sdec(3) ctitle(" ") drop(ib3.region) l
> abel onecol sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lb
> ankcon1 imf_iiiyr) addtext(Region dummies, YES)
app8.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wbankabroad) errorlag(Wbankabroad) force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrix defines 119 places)
  (you specified -force-)
  (weighting matrix matched 108 places in data)
  (weighting matrix Wbankabroad_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .03012162
alternative:   GMM criterion =  .09196733
rescale:       GMM criterion =  .00479937
Iteration 0:   GMM criterion =  .00479937  
Iteration 1:   GMM criterion =  .00223333  
Iteration 2:   GMM criterion =   .0022327  
Iteration 3:   GMM criterion =   .0022327  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .00161248  
Iteration 1:   GMM criterion =  .00001276  
Iteration 2:   GMM criterion =  .00001014  
Iteration 3:   GMM criterion =  .00001014  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(14)     =     167.23
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.5792

-------------------------------------------------------------------------------
---
       bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
bii_index        |
    Lprivcredit1 |   .0291729   .0086046     3.39   0.001     .0123082    .0460
> 376
    Lfdi_in_gdp1 |  -.0803884   .0432861    -1.86   0.063    -.1652277    .0044
> 509
         Lpolity |   .0541534   .0664209     0.82   0.415    -.0760291     .184
> 336
            Lcpi |  -.0416157    .019545    -2.13   0.033    -.0799233   -.0033
> 081
           Lcbiw |    .035203   .0179468     1.96   0.050     .0000278    .0703
> 781
       Lbankcon1 |  -.0015064     .01316    -0.11   0.909    -.0272996    .0242
> 867
       imf_iiiyr |  -.4732571   .6277285    -0.75   0.451    -1.703582    .7570
> 682
                 |
          region |
              0  |   1.096477   2.282629     0.48   0.631    -3.377394    5.570
> 349
            EAP  |    2.15147    1.03905     2.07   0.038     .1149689    4.187
> 972
            ECA  |   2.489758   .8468889     2.94   0.003     .8298863     4.14
> 963
           MENA  |    1.62273    1.18681     1.37   0.172    -.7033755    3.948
> 835
             SA  |   2.936738   1.236616     2.37   0.018      .513016     5.36
> 046
            SSA  |   .4663568   .8704828     0.54   0.592    -1.239758    2.172
> 472
                 |
           _cons |   2.328785   2.195988     1.06   0.289    -1.975272    6.632
> 842
-----------------+-------------------------------------------------------------
---
Wbankabroad_s001 |
       bii_index |   .0226963   .0447371     0.51   0.612    -.0649868    .1103
> 795
     e.bii_index |   -.374937   .4171623    -0.90   0.369     -1.19256    .4426
> 861
-------------------------------------------------------------------------------
---
Wald test of spatial terms:          chi2(2) = 0.94       Prob > chi2 = 0.6237

. outreg2 using app8.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app8.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wsamenet) errorlag(Wsamenet) force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrix defines 119 places)
  (you specified -force-)
  (weighting matrix matched 108 places in data)
  (weighting matrix Wsamenet_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .05760219
alternative:   GMM criterion =  .02867791
rescale:       GMM criterion =  .00718931
Iteration 0:   GMM criterion =  .00718931  
Iteration 1:   GMM criterion =  .00130451  
Iteration 2:   GMM criterion =  .00127795  
Iteration 3:   GMM criterion =  .00127795  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .01894587  
Iteration 1:   GMM criterion =  .01785087  
Iteration 2:   GMM criterion =  .01784843  
Iteration 3:   GMM criterion =  .01784843  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(14)     =     308.52
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.6094

-------------------------------------------------------------------------------
    bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
--------------+----------------------------------------------------------------
bii_index     |
 Lprivcredit1 |   .0354261   .0077414     4.58   0.000     .0202532    .0505991
 Lfdi_in_gdp1 |  -.0726994   .0417949    -1.74   0.082    -.1546158    .0092171
      Lpolity |   .0528039   .0652626     0.81   0.418    -.0751085    .1807163
         Lcpi |   -.052994   .0196449    -2.70   0.007    -.0914973   -.0144907
        Lcbiw |   .0224028   .0175469     1.28   0.202    -.0119885     .056794
    Lbankcon1 |  -.0033613   .0121864    -0.28   0.783    -.0272463    .0205237
    imf_iiiyr |  -.3721439   .6072181    -0.61   0.540     -1.56227    .8179817
              |
       region |
           0  |   .3872486   2.093131     0.19   0.853    -3.715214    4.489711
         EAP  |   1.681061   .8113557     2.07   0.038     .0908333    3.271289
         ECA  |   2.441594   .5763575     4.24   0.000     1.311954    3.571234
        MENA  |   1.382252   .9776161     1.41   0.157    -.5338399    3.298345
          SA  |   2.766657   1.041456     2.66   0.008     .7254408    4.807873
         SSA  |   1.390033   .7331835     1.90   0.058    -.0469798    2.827047
              |
        _cons |   2.047938   2.101836     0.97   0.330    -2.071584     6.16746
--------------+----------------------------------------------------------------
Wsamenet_s001 |
    bii_index |   .3762924   .1024843     3.67   0.000     .1754269    .5771579
  e.bii_index |   -2.14975   2.166345    -0.99   0.321    -6.395708    2.096208
-------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 13.80      Prob > chi2 = 0.0010

. outreg2 using app8.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app8.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wsovsame) errorlag(Wsovsame) force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrix defines 119 places)
  (you specified -force-)
  (weighting matrix matched 108 places in data)
  (weighting matrix Wsovsame_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .01762628
alternative:   GMM criterion =  .00650337
rescale:       GMM criterion =  .00024673
Iteration 0:   GMM criterion =  .00024673  
Iteration 1:   GMM criterion =  .00004773  
Iteration 2:   GMM criterion =  .00004768  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .00120746  
Iteration 1:   GMM criterion =  .00002089  
Iteration 2:   GMM criterion =  .00001827  
Iteration 3:   GMM criterion =  .00001827  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(14)     =     140.34
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.5851

-------------------------------------------------------------------------------
    bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
--------------+----------------------------------------------------------------
bii_index     |
 Lprivcredit1 |   .0268501   .0076547     3.51   0.000     .0118471    .0418532
 Lfdi_in_gdp1 |  -.0760005   .0415474    -1.83   0.067    -.1574319    .0054309
      Lpolity |   .0440105   .0632826     0.70   0.487    -.0800212    .1680421
         Lcpi |   -.015729   .0221959    -0.71   0.479    -.0592321    .0277741
        Lcbiw |   .0330029   .0173109     1.91   0.057    -.0009257    .0669316
    Lbankcon1 |   .0048377   .0122544     0.39   0.693    -.0191805    .0288559
    imf_iiiyr |  -.2471442   .5997955    -0.41   0.680    -1.422722    .9284334
              |
       region |
           0  |   .7459929    2.01808     0.37   0.712    -3.209371    4.701357
         EAP  |   2.082225   1.033817     2.01   0.044     .0559804    4.108469
         ECA  |   2.526778   .8436801     2.99   0.003     .8731953     4.18036
        MENA  |   2.121128   1.182233     1.79   0.073    -.1960066    4.438263
          SA  |   3.228704   1.215662     2.66   0.008     .8460492    5.611358
         SSA  |   .7988878   .8829197     0.90   0.366     -.931603    2.529379
              |
        _cons |  -.3553468   2.401652    -0.15   0.882    -5.062498    4.351804
--------------+----------------------------------------------------------------
Wsovsame_s001 |
    bii_index |   .3830482   .1248579     3.07   0.002     .1383313    .6277651
  e.bii_index |   .4221525    .420261     1.00   0.315     -.401544    1.245849
-------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 9.61       Prob > chi2 = 0.0082

. outreg2 using app8.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app8.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wtrade) errorlag(Wtrade) force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrix defines 119 places)
  (you specified -force-)
  (weighting matrix matched 108 places in data)
  (weighting matrix Wtrade_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .00858808
alternative:   GMM criterion =  .00864594
rescale:       GMM criterion =  .00845678
Iteration 0:   GMM criterion =  .00845678  
Iteration 1:   GMM criterion =  .00845656  
Iteration 2:   GMM criterion =  .00845656  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .01011591  
Iteration 1:   GMM criterion =  .00453311  
Iteration 2:   GMM criterion =  .00444118  
Iteration 3:   GMM criterion =   .0044392  
Iteration 4:   GMM criterion =  .00443915  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(14)     =     201.58
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.6415

------------------------------------------------------------------------------
   bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
bii_index    |
Lprivcredit1 |   .0215012   .0076437     2.81   0.005     .0065198    .0364825
Lfdi_in_gdp1 |  -.0544919   .0405887    -1.34   0.179    -.1340443    .0250606
     Lpolity |   .0587688   .0608502     0.97   0.334    -.0604955    .1780331
        Lcpi |  -.0201397   .0187934    -1.07   0.284    -.0569741    .0166948
       Lcbiw |   .0311872   .0166283     1.88   0.061    -.0014037     .063778
   Lbankcon1 |   .0163455   .0123064     1.33   0.184    -.0077747    .0404656
   imf_iiiyr |  -.0454585   .5865778    -0.08   0.938     -1.19513    1.104213
             |
      region |
          0  |   .4373568   1.954971     0.22   0.823    -3.394317     4.26903
        EAP  |   1.032326   1.007759     1.02   0.306     -.942845    3.007498
        ECA  |   2.104924   .7902549     2.66   0.008     .5560524    3.653795
       MENA  |    1.38231   1.108294     1.25   0.212    -.7899062    3.554526
         SA  |   2.612533   1.146632     2.28   0.023     .3651759     4.85989
        SSA  |   .5083236   .8115482     0.63   0.531    -1.082282    2.098929
             |
       _cons |  -.8023559   2.157477    -0.37   0.710    -5.030933    3.426221
-------------+----------------------------------------------------------------
Wtrade_s001  |
   bii_index |   .2915682   .0655922     4.45   0.000     .1630098    .4201266
 e.bii_index |   1.798672   2.364099     0.76   0.447    -2.834878    6.432222
------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 21.19      Prob > chi2 = 0.0000

. outreg2 using app8.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app8.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wfbanks) dvarlag(Wbankabroad) dvarlag(Wsam
> enet) dvarlag(Wsovsame) errorlag(Wfbanks) errorlag(Wbankabroad) errorlag(Wsam
> enet) errorlag(Wsovsame)  force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrices define 119 places)
  (you specified -force-)
  (weighting matrices matched 108 places in data)
  (weighting matrix Wfbanks_s001 created)
  (weighting matrix Wbankabroad_s001 created)
  (weighting matrix Wsamenet_s001 created)
  (weighting matrix Wsovsame_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .18801354
alternative:   GMM criterion =  .22169441
rescale:       GMM criterion =  .14064862
rescale eq:    GMM criterion =  .09426858
Iteration 0:   GMM criterion =  .09426858  
Iteration 1:   GMM criterion =  .06994791  
Iteration 2:   GMM criterion =  .00966288  
Iteration 3:   GMM criterion =  .00734021  
Iteration 4:   GMM criterion =  .00733851  
Iteration 5:   GMM criterion =  .00733851  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .01129493  
Iteration 1:   GMM criterion =  .00284985  
Iteration 2:   GMM criterion =   .0024942  
Iteration 3:   GMM criterion =  .00246102  
Iteration 4:   GMM criterion =  .00245674  
Iteration 5:   GMM criterion =  .00245622  
Iteration 6:   GMM criterion =  .00245615  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(17)     =    1243.51
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.6237

-------------------------------------------------------------------------------
---
       bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
bii_index        |
    Lprivcredit1 |   .0336213   .0077584     4.33   0.000     .0184152    .0488
> 274
    Lfdi_in_gdp1 |  -.1046825   .0411032    -2.55   0.011    -.1852432   -.0241
> 218
         Lpolity |   .0384789   .0631068     0.61   0.542    -.0852082    .1621
> 661
            Lcpi |  -.0078395   .0185235    -0.42   0.672     -.044145    .0284
> 659
           Lcbiw |   .0394978   .0159375     2.48   0.013     .0082608    .0707
> 347
       Lbankcon1 |   .0073549   .0111443     0.66   0.509    -.0144876    .0291
> 974
       imf_iiiyr |   -.571518   .6255716    -0.91   0.361    -1.797616    .6545
> 798
                 |
          region |
              0  |   .3647903   1.417247     0.26   0.797    -2.412963    3.142
> 544
            EAP  |    1.74243   .7399418     2.35   0.019     .2921709     3.19
> 269
            ECA  |   2.299022   .4882604     4.71   0.000     1.342049    3.255
> 995
           MENA  |   1.980528   .9220759     2.15   0.032     .1732926    3.787
> 764
             SA  |   4.597577   .9959715     4.62   0.000     2.645509    6.549
> 646
            SSA  |   1.039923   .5813475     1.79   0.074    -.0994975    2.179
> 343
                 |
           _cons |  -2.363248   1.930722    -1.22   0.221    -6.147393    1.420
> 897
-----------------+-------------------------------------------------------------
---
Wfbanks_s001     |
       bii_index |   .0653575   .0409553     1.60   0.111    -.0149133    .1456
> 284
     e.bii_index |    3.49825   5.380757     0.65   0.516    -7.047841    14.04
> 434
-----------------+-------------------------------------------------------------
---
Wbankabroad_s001 |
       bii_index |   -.008422   .0293493    -0.29   0.774    -.0659455    .0491
> 015
     e.bii_index |  -3.414023   5.839439    -0.58   0.559    -14.85911    8.031
> 067
-----------------+-------------------------------------------------------------
---
Wsamenet_s001    |
       bii_index |   .2128145   .1077561     1.97   0.048     .0016163    .4240
> 126
     e.bii_index |    -2.5612   3.065112    -0.84   0.403    -8.568708    3.446
> 308
-----------------+-------------------------------------------------------------
---
Wsovsame_s001    |
       bii_index |   .2952292   .0863247     3.42   0.001     .1260359    .4644
> 226
     e.bii_index |  -3.933951   7.808348    -0.50   0.614    -19.23803    11.37
> 013
-------------------------------------------------------------------------------
---
Wald test of spatial terms:          chi2(8) = 39.44      Prob > chi2 = 0.0000

. outreg2 using app8.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app8.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wfbanks) dvarlag(Wbankabroad) dvarlag(Wsam
> enet) dvarlag(Wsovsame) dvarlag(Wtrade) errorlag(Wfbanks) errorlag(Wbankabroa
> d) errorlag(Wsamenet) errorlag(Wsovsame)  errorlag(Wtrade) force
  (119 observations)
  (11 observations excluded due to missing values)
  (108 observations (places) used)
  (weighting matrices define 119 places)
  (you specified -force-)
  (weighting matrices matched 108 places in data)
  (weighting matrix Wfbanks_s001 created)
  (weighting matrix Wbankabroad_s001 created)
  (weighting matrix Wsamenet_s001 created)
  (weighting matrix Wsovsame_s001 created)
  (weighting matrix Wtrade_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .15848737
alternative:   GMM criterion =  .25771416
rescale:       GMM criterion =  .15177929
rescale eq:    GMM criterion =  .05171177
Iteration 0:   GMM criterion =  .05171177  
Iteration 1:   GMM criterion =     .02732  
Iteration 2:   GMM criterion =  .01037979  
Iteration 3:   GMM criterion =  .00378168  
Iteration 4:   GMM criterion =  .00374488  
Iteration 5:   GMM criterion =  .00374487  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .02176219  
Iteration 1:   GMM criterion =  .00943474  
Iteration 2:   GMM criterion =    .008364  
Iteration 3:   GMM criterion =   .0044112  
Iteration 4:   GMM criterion =  .00291021  
Iteration 5:   GMM criterion =  .00289728  
Iteration 6:   GMM criterion =  .00289678  
Iteration 7:   GMM criterion =  .00289674  

Spatial autoregressive model                    Number of obs     =        108
GS2SLS estimates                                Wald chi2(18)     =     825.12
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.6841

-------------------------------------------------------------------------------
---
       bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
bii_index        |
    Lprivcredit1 |   .0240766   .0072983     3.30   0.001     .0097723    .0383
> 809
    Lfdi_in_gdp1 |  -.0245394   .0370389    -0.66   0.508    -.0971343    .0480
> 555
         Lpolity |   .0432477   .0542504     0.80   0.425    -.0630811    .1495
> 765
            Lcpi |  -.0075078    .019475    -0.39   0.700     -.045678    .0306
> 625
           Lcbiw |   .0335205   .0147295     2.28   0.023     .0046511    .0623
> 898
       Lbankcon1 |   .0137061   .0101762     1.35   0.178    -.0062389    .0336
> 511
       imf_iiiyr |  -.0880652   .5610094    -0.16   0.875    -1.187623    1.011
> 493
                 |
          region |
              0  |   1.252485    1.38634     0.90   0.366     -1.46469    3.969
> 661
            EAP  |   .0859257   .8224121     0.10   0.917    -1.525973    1.697
> 824
            ECA  |   2.199687   .4424623     4.97   0.000     1.332477    3.066
> 897
           MENA  |   2.004963   .9335393     2.15   0.032     .1752595    3.834
> 666
             SA  |   3.784127   1.008248     3.75   0.000     1.807998    5.760
> 256
            SSA  |   1.547137   .5519748     2.80   0.005     .4652858    2.628
> 987
                 |
           _cons |  -3.045968   1.986558    -1.53   0.125    -6.939551    .8476
> 142
-----------------+-------------------------------------------------------------
---
Wfbanks_s001     |
       bii_index |  -.0170787   .0388622    -0.44   0.660    -.0932471    .0590
> 898
     e.bii_index |   2.461712   2.067973     1.19   0.234    -1.591439    6.514
> 864
-----------------+-------------------------------------------------------------
---
Wbankabroad_s001 |
       bii_index |  -.0897439    .031528    -2.85   0.004    -.1515377   -.0279
> 501
     e.bii_index |  -2.358957   2.503922    -0.94   0.346    -7.266554     2.54
> 864
-----------------+-------------------------------------------------------------
---
Wsamenet_s001    |
       bii_index |   .2448008   .1035359     2.36   0.018     .0418742    .4477
> 274
     e.bii_index |   .0413741   .9538933     0.04   0.965    -1.828222    1.910
> 971
-----------------+-------------------------------------------------------------
---
Wsovsame_s001    |
       bii_index |   .2546356   .1052995     2.42   0.016     .0482523    .4610
> 188
     e.bii_index |  -2.329265    1.99845    -1.17   0.244    -6.246154    1.587
> 624
-----------------+-------------------------------------------------------------
---
Wtrade_s001      |
       bii_index |   .3287921   .0604036     5.44   0.000     .2104033     .447
> 181
     e.bii_index |   1.541404   2.294096     0.67   0.502    -2.954941     6.03
> 775
-------------------------------------------------------------------------------
---
Wald test of spatial terms:          chi2(10) = 75.48     Prob > chi2 = 0.0000

. outreg2 using app8.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app8.doc
dir : seeout

. 
. 
. ******
. 
. *Table A9: Spatial-GMM model of extent of Basel II adoption in 2008, estimati
> on sample shrunk to include only those outside the Basel committee
. *Keep 2013 and only relevant observations
. use "AA-workingdata.dta", replace

. keep if year==2013
(2,703 observations deleted)

. drop year

. drop if rf12nB_1==.
(84 observations deleted)

. 
. *spset the data for spatial analysis. iso is the unit identifier.
. xtset, clear

. spset, clear

. spset iso
  Sp dataset AA-workingdata.dta
                data:  cross sectional
     spatial-unit id:  _ID (equal to iso)
         coordinates:  none
    linked shapefile:  none

. 
. *Generate a spatial matrix of the links created through the *entry of foreign
>  banks*
. spmatrix fromdata Wfbanks = rf12nB_1 - rf12nB_76, replace
  (weighting matrix contains 36 islands)

. *Generate a spatial matrix of the links created through *domestic banks going
>  abroad*
. spmatrix fromdata Wbankabroad = st12nB_1 - st12nB_76, replace
  (weighting matrix contains 43 islands)

. *Generate a spatial matrix of the links created through *competition for capi
> tal* 
. spmatrix fromdata Wsovsame = sov12nB_1 - sov12nB_76, replace
  (weighting matrix contains 39 islands)

. *Generate a spatial matrix of the links created through *joint network member
> ship* (measured as any shared network membership)
. spmatrix fromdata Wsamenet = net12nB_1 - net12nB_76, replace
  (weighting matrix contains 21 islands)

. *Generate a spatial matrix of the links created through *trade* 
. spmatrix fromdata Wtrade = trade12nB_1 - trade12nB_76, replace
  (weighting matrix contains 2 islands)

. *Drop the variables used to create the spatial matrices
. drop rf12nB_* st12nB_* sov12nB_* net12nB_* trade12nB_*

. 
. *Run models
. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wfbanks) errorlag(Wfbanks) force
  (76 observations)
  (10 observations excluded due to missing values)
  (66 observations (places) used)
  (weighting matrix defines 76 places)
  (you specified -force-)
  (weighting matrix matched 66 places in data)
  (weighting matrix Wfbanks_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =   .6201487
alternative:   GMM criterion =  5.8589429
rescale:       GMM criterion =   .6201487
Iteration 0:   GMM criterion =   .6201487  
Iteration 1:   GMM criterion =  .59649111  
Iteration 2:   GMM criterion =  .59643544  
Iteration 3:   GMM criterion =  .59643536  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .01315308  
Iteration 1:   GMM criterion =  .00621672  
Iteration 2:   GMM criterion =  .00619568  
Iteration 3:   GMM criterion =  .00619566  

Spatial autoregressive model                    Number of obs     =         66
GS2SLS estimates                                Wald chi2(13)     =      34.08
                                                Prob > chi2       =     0.0012
                                                Pseudo R2         =     0.3342

------------------------------------------------------------------------------
   bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
bii_index    |
Lprivcredit1 |   .0428128   .0152067     2.82   0.005     .0130083    .0726173
Lfdi_in_gdp1 |  -.0648653   .0557671    -1.16   0.245    -.1741668    .0444363
     Lpolity |    .020646   .0800402     0.26   0.796      -.13623     .177522
        Lcpi |  -.0190864   .0302359    -0.63   0.528    -.0783478    .0401749
       Lcbiw |   .0303421   .0244012     1.24   0.214    -.0174833    .0781675
   Lbankcon1 |  -.0017962   .0206335    -0.09   0.931    -.0422371    .0386446
   imf_iiiyr |   .0185851   .8026547     0.02   0.982    -1.554589    1.591759
             |
      region |
        EAP  |   1.264237   1.401723     0.90   0.367    -1.483089    4.011563
        ECA  |   1.817459   1.101836     1.65   0.099    -.3420997    3.977018
       MENA  |   1.622035   1.399638     1.16   0.246    -1.121205    4.365275
         SA  |   2.542571   1.394957     1.82   0.068    -.1914956    5.276637
        SSA  |   .8219976   .9918291     0.83   0.407    -1.121952    2.765947
             |
       _cons |  -.0689713   3.466327    -0.02   0.984    -6.862848    6.724906
-------------+----------------------------------------------------------------
Wfbanks_s001 |
   bii_index |   .0252318   .0775972     0.33   0.745     -.126856    .1773196
 e.bii_index |  -.1765995   .2145286    -0.82   0.410    -.5970678    .2438688
------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 0.68       Prob > chi2 = 0.7114

. outreg2 using app9.doc, replace dec(3) sdec(3) ctitle(" ") drop(ib3.region) l
> abel onecol sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lb
> ankcon1 imf_iiiyr) addtext(Region dummies, YES)
app9.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wbankabroad) errorlag(Wbankabroad) force
  (76 observations)
  (10 observations excluded due to missing values)
  (66 observations (places) used)
  (weighting matrix defines 76 places)
  (you specified -force-)
  (weighting matrix matched 66 places in data)
  (weighting matrix Wbankabroad_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  1.0169355
alternative:   GMM criterion =   .4553096
rescale:       GMM criterion =  .05246402
Iteration 0:   GMM criterion =  .05246402  
Iteration 1:   GMM criterion =  .02717234  
Iteration 2:   GMM criterion =  .02716012  
Iteration 3:   GMM criterion =  .02716012  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .00711323  
Iteration 1:   GMM criterion =  .00005338  
Iteration 2:   GMM criterion =  .00005004  
Iteration 3:   GMM criterion =  .00005004  

Spatial autoregressive model                    Number of obs     =         66
GS2SLS estimates                                Wald chi2(13)     =      60.97
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.4035

-------------------------------------------------------------------------------
---
       bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
bii_index        |
    Lprivcredit1 |   .0365079   .0141467     2.58   0.010     .0087808     .064
> 235
    Lfdi_in_gdp1 |  -.0615753   .0530248    -1.16   0.246    -.1655021    .0423
> 515
         Lpolity |    .075604   .0791327     0.96   0.339    -.0794933    .2307
> 012
            Lcpi |  -.0047003   .0273466    -0.17   0.864    -.0582987    .0488
> 981
           Lcbiw |   .0331888    .022183     1.50   0.135     -.010289    .0766
> 666
       Lbankcon1 |   -.001015    .018448    -0.06   0.956    -.0371724    .0351
> 424
       imf_iiiyr |  -.1068954   .7530753    -0.14   0.887    -1.582896    1.369
> 105
                 |
          region |
            EAP  |   1.484332   1.227285     1.21   0.226    -.9211017    3.889
> 765
            ECA  |   2.088303   .9816694     2.13   0.033     .1642659    4.012
> 339
           MENA  |   1.153135   1.147772     1.00   0.315    -1.096457    3.402
> 727
             SA  |   2.836091   1.224977     2.32   0.021     .4351802    5.237
> 001
            SSA  |   1.081192   .8239778     1.31   0.189    -.5337753    2.696
> 159
                 |
           _cons |  -1.657162   3.264424    -0.51   0.612    -8.055316    4.740
> 992
-----------------+-------------------------------------------------------------
---
Wbankabroad_s001 |
       bii_index |   .2311285   .0807274     2.86   0.004     .0729057    .3893
> 514
     e.bii_index |  -.4566523   .2384737    -1.91   0.056    -.9240521    .0107
> 475
-------------------------------------------------------------------------------
---
Wald test of spatial terms:          chi2(2) = 9.28       Prob > chi2 = 0.0097

. outreg2 using app9.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app9.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wsamenet) errorlag(Wsamenet) force
  (76 observations)
  (10 observations excluded due to missing values)
  (66 observations (places) used)
  (weighting matrix defines 76 places)
  (you specified -force-)
  (weighting matrix matched 66 places in data)
  (weighting matrix Wsamenet_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .12372816
alternative:   GMM criterion =  .08507522
rescale:       GMM criterion =  .01165535
Iteration 0:   GMM criterion =  .01165535  
Iteration 1:   GMM criterion =  .00885383  
Iteration 2:   GMM criterion =   .0088517  
Iteration 3:   GMM criterion =   .0088517  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .02519616  
Iteration 1:   GMM criterion =  .01330674  
Iteration 2:   GMM criterion =  .01328986  
Iteration 3:   GMM criterion =  .01328986  

Spatial autoregressive model                    Number of obs     =         66
GS2SLS estimates                                Wald chi2(13)     =     206.03
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.4040

-------------------------------------------------------------------------------
    bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
--------------+----------------------------------------------------------------
bii_index     |
 Lprivcredit1 |   .0353745   .0149233     2.37   0.018     .0061253    .0646236
 Lfdi_in_gdp1 |  -.0646802    .053694    -1.20   0.228    -.1699185    .0405582
      Lpolity |   .0681092   .0798006     0.85   0.393    -.0882971    .2245154
         Lcpi |  -.0419592   .0287676    -1.46   0.145    -.0983426    .0144242
        Lcbiw |   .0101813   .0226893     0.45   0.654    -.0342889    .0546514
    Lbankcon1 |  -.0083949   .0185231    -0.45   0.650    -.0446994    .0279096
    imf_iiiyr |  -.1734155   .7872119    -0.22   0.826    -1.716322    1.369491
              |
       region |
         EAP  |   1.766142   1.021062     1.73   0.084    -.2351033    3.767387
         ECA  |   2.612663    .630048     4.15   0.000     1.377792    3.847534
        MENA  |   .6665899   1.050393     0.63   0.526    -1.392142    2.725322
          SA  |    1.94133   1.089334     1.78   0.075    -.1937244    4.076385
         SSA  |   1.595705   .6899051     2.31   0.021     .2435159    2.947894
              |
        _cons |   1.393186   3.097725     0.45   0.653    -4.678245    7.464616
--------------+----------------------------------------------------------------
Wsamenet_s001 |
    bii_index |   .7461158   .1803281     4.14   0.000     .3926791    1.099552
  e.bii_index |  -5.352272   3.689644    -1.45   0.147    -12.58384    1.879298
-------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 18.48      Prob > chi2 = 0.0001

. outreg2 using app9.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app9.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wsovsame) errorlag(Wsovsame) force
  (76 observations)
  (10 observations excluded due to missing values)
  (66 observations (places) used)
  (weighting matrix defines 76 places)
  (you specified -force-)
  (weighting matrix matched 66 places in data)
  (weighting matrix Wsovsame_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .10866262
alternative:   GMM criterion =  .01763897
rescale:       GMM criterion =  .01420879
Iteration 0:   GMM criterion =  .01420879  
Iteration 1:   GMM criterion =  .00146931  
Iteration 2:   GMM criterion =  .00145952  
Iteration 3:   GMM criterion =  .00145952  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .01037087  
Iteration 1:   GMM criterion =  .00639229  
Iteration 2:   GMM criterion =  .00638172  
Iteration 3:   GMM criterion =  .00638172  

Spatial autoregressive model                    Number of obs     =         66
GS2SLS estimates                                Wald chi2(13)     =      57.41
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.3866

-------------------------------------------------------------------------------
    bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
--------------+----------------------------------------------------------------
bii_index     |
 Lprivcredit1 |   .0479181   .0137665     3.48   0.000     .0209363       .0749
 Lfdi_in_gdp1 |  -.0659175    .053165    -1.24   0.215     -.170119     .038284
      Lpolity |  -.0144623   .0757005    -0.19   0.848    -.1628325     .133908
         Lcpi |  -.0090735   .0281708    -0.32   0.747    -.0642873    .0461402
        Lcbiw |   .0118198   .0226446     0.52   0.602    -.0325629    .0562024
    Lbankcon1 |   .0032769   .0176938     0.19   0.853    -.0314023    .0379562
    imf_iiiyr |  -.1012814   .7844634    -0.13   0.897    -1.638801    1.436238
              |
       region |
         EAP  |   .6542389   1.302179     0.50   0.615    -1.897984    3.206462
         ECA  |   2.162429   1.066552     2.03   0.043     .0720257    4.252833
        MENA  |   1.592295   1.290386     1.23   0.217    -.9368143    4.121404
          SA  |    2.79871   1.325021     2.11   0.035     .2017164    5.395703
         SSA  |   .9358267   .9550114     0.98   0.327    -.9359612    2.807615
              |
        _cons |  -.8023264   3.195486    -0.25   0.802    -7.065365    5.460712
--------------+----------------------------------------------------------------
Wsovsame_s001 |
    bii_index |   .5407759   .1543062     3.50   0.000     .2383413    .8432104
  e.bii_index |  -.6790243   .5756344    -1.18   0.238    -1.807247    .4491984
-------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 12.72      Prob > chi2 = 0.0017

. outreg2 using app9.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app9.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wtrade) errorlag(Wtrade) force
  (76 observations)
  (10 observations excluded due to missing values)
  (66 observations (places) used)
  (weighting matrix defines 76 places)
  (you specified -force-)
  (weighting matrix matched 66 places in data)
  (weighting matrix Wtrade_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .11203095
alternative:   GMM criterion =  .02027795
rescale:       GMM criterion =  .02027795
Iteration 0:   GMM criterion =  .02027795  
Iteration 1:   GMM criterion =  .01322128  
Iteration 2:   GMM criterion =  .01322048  
Iteration 3:   GMM criterion =  .01322048  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .01136708  
Iteration 1:   GMM criterion =  .00919467  
Iteration 2:   GMM criterion =  .00919444  
Iteration 3:   GMM criterion =  .00919444  

Spatial autoregressive model                    Number of obs     =         66
GS2SLS estimates                                Wald chi2(13)     =      47.91
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.3693

------------------------------------------------------------------------------
   bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interval]
-------------+----------------------------------------------------------------
bii_index    |
Lprivcredit1 |   .0305278    .015686     1.95   0.052    -.0002161    .0612718
Lfdi_in_gdp1 |  -.0300434   .0546632    -0.55   0.583    -.1371814    .0770945
     Lpolity |   .0256618   .0766813     0.33   0.738    -.1246309    .1759544
        Lcpi |  -.0103423    .029606    -0.35   0.727     -.068369    .0476843
       Lcbiw |    .033611   .0228204     1.47   0.141    -.0111162    .0783381
   Lbankcon1 |   .0012252   .0179166     0.07   0.945    -.0338907    .0363411
   imf_iiiyr |  -.0536066   .7953313    -0.07   0.946    -1.612427    1.505214
             |
      region |
        EAP  |   .2175223   1.298334     0.17   0.867    -2.327165     2.76221
        ECA  |   2.034286   .8850268     2.30   0.022     .2996652    3.768907
       MENA  |    1.36356   1.156136     1.18   0.238    -.9024249    3.629545
         SA  |   2.330139   1.209961     1.93   0.054    -.0413401    4.701619
        SSA  |   1.183288   .7800754     1.52   0.129    -.3456321    2.712207
             |
       _cons |   -1.39945   3.333199    -0.42   0.675      -7.9324      5.1335
-------------+----------------------------------------------------------------
Wtrade_s001  |
   bii_index |   .3184648   .1317856     2.42   0.016     .0601698    .5767598
 e.bii_index |  -1.014381   .9084083    -1.12   0.264    -2.794829    .7660661
------------------------------------------------------------------------------
Wald test of spatial terms:          chi2(2) = 5.92       Prob > chi2 = 0.0518

. outreg2 using app9.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app9.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wfbanks) dvarlag(Wbankabroad) dvarlag(Wsam
> enet) dvarlag(Wsovsame) errorlag(Wfbanks) errorlag(Wbankabroad) errorlag(Wsam
> enet) errorlag(Wsovsame)  force
  (76 observations)
  (10 observations excluded due to missing values)
  (66 observations (places) used)
  (weighting matrices define 76 places)
  (you specified -force-)
  (weighting matrices matched 66 places in data)
  (weighting matrix Wfbanks_s001 created)
  (weighting matrix Wbankabroad_s001 created)
  (weighting matrix Wsamenet_s001 created)
  (weighting matrix Wsovsame_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  1.1208366
alternative:   GMM criterion =  6.8763167
rescale:       GMM criterion =  .52750406
rescale eq:    GMM criterion =  .03640399
Iteration 0:   GMM criterion =  .03640399  
Iteration 1:   GMM criterion =  .00487976  
Iteration 2:   GMM criterion =  .00428269  
Iteration 3:   GMM criterion =  .00428248  
Iteration 4:   GMM criterion =  .00428248  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =   .0420402  
Iteration 1:   GMM criterion =  .01255474  
Iteration 2:   GMM criterion =   .0107241  
Iteration 3:   GMM criterion =  .01059648  
Iteration 4:   GMM criterion =   .0105644  
Iteration 5:   GMM criterion =  .01055432  
Iteration 6:   GMM criterion =  .01054925  
Iteration 7:   GMM criterion =    .010547  
Iteration 8:   GMM criterion =  .01054567  
Iteration 9:   GMM criterion =  .01054499  
Iteration 10:  GMM criterion =  .01054459  
Iteration 11:  GMM criterion =  .01054437  
Iteration 12:  GMM criterion =  .01054425  
Iteration 13:  GMM criterion =  .01054418  

Spatial autoregressive model                    Number of obs     =         66
GS2SLS estimates                                Wald chi2(16)     =     286.27
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.4941

-------------------------------------------------------------------------------
---
       bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
bii_index        |
    Lprivcredit1 |   .0396602   .0127184     3.12   0.002     .0147325    .0645
> 879
    Lfdi_in_gdp1 |   -.069369   .0482079    -1.44   0.150    -.1638547    .0251
> 166
         Lpolity |   .0775547   .0731463     1.06   0.289    -.0658094    .2209
> 188
            Lcpi |  -.0035041   .0260747    -0.13   0.893    -.0546097    .0476
> 014
           Lcbiw |   .0011604   .0211691     0.05   0.956    -.0403303    .0426
> 511
       Lbankcon1 |   .0060793   .0185089     0.33   0.743    -.0301976    .0423
> 561
       imf_iiiyr |  -.4343332    .726827    -0.60   0.550    -1.858888    .9902
> 216
                 |
          region |
            EAP  |   1.218988    .836939     1.46   0.145    -.4213823    2.859
> 358
            ECA  |    3.12702    .604052     5.18   0.000       1.9431    4.310
> 941
           MENA  |   .8109444   .9933747     0.82   0.414    -1.136034    2.757
> 923
             SA  |   2.946013   .9476191     3.11   0.002     1.088714    4.803
> 313
            SSA  |   1.751008   .6090803     2.87   0.004     .5572322    2.944
> 783
                 |
           _cons |  -2.247267   2.903998    -0.77   0.439       -7.939    3.444
> 465
-----------------+-------------------------------------------------------------
---
Wfbanks_s001     |
       bii_index |  -.0149108    .066818    -0.22   0.823    -.1458717    .1160
> 501
     e.bii_index |   .3985385   .4747504     0.84   0.401    -.5319552    1.329
> 032
-----------------+-------------------------------------------------------------
---
Wbankabroad_s001 |
       bii_index |    .183169   .0838893     2.18   0.029     .0187489    .3475
> 891
     e.bii_index |  -.5267336   .4950566    -1.06   0.287    -1.497027    .4435
> 595
-----------------+-------------------------------------------------------------
---
Wsamenet_s001    |
       bii_index |   .4123598   .1961462     2.10   0.036     .0279203    .7967
> 993
     e.bii_index |   -6.86287   6.196369    -1.11   0.268    -19.00753     5.28
> 179
-----------------+-------------------------------------------------------------
---
Wsovsame_s001    |
       bii_index |   .5794678   .1371284     4.23   0.000      .310701    .8482
> 346
     e.bii_index |  -.8976059   .8848697    -1.01   0.310    -2.631919    .8367
> 069
-------------------------------------------------------------------------------
---
Wald test of spatial terms:          chi2(8) = 38.98      Prob > chi2 = 0.0000

. outreg2 using app9.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app9.doc
dir : seeout

. spregress bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 im
> f_iiiyr ib3.region, gs2sls dvarlag(Wfbanks) dvarlag(Wbankabroad) dvarlag(Wsam
> enet) dvarlag(Wsovsame) dvarlag(Wtrade) errorlag(Wfbanks) errorlag(Wbankabroa
> d) errorlag(Wsamenet) errorlag(Wsovsame)  errorlag(Wtrade) force
  (76 observations)
  (10 observations excluded due to missing values)
  (66 observations (places) used)
  (weighting matrices define 76 places)
  (you specified -force-)
  (weighting matrices matched 66 places in data)
  (weighting matrix Wfbanks_s001 created)
  (weighting matrix Wbankabroad_s001 created)
  (weighting matrix Wsamenet_s001 created)
  (weighting matrix Wsovsame_s001 created)
  (weighting matrix Wtrade_s001 created)

Estimating rho using 2SLS residuals: 

initial:       GMM criterion =  .95581611
alternative:   GMM criterion =  10.637102
rescale:       GMM criterion =  .56566882
rescale eq:    GMM criterion =  .02962121
Iteration 0:   GMM criterion =  .02962121  
Iteration 1:   GMM criterion =  .00682126  
Iteration 2:   GMM criterion =  .00670986  
Iteration 3:   GMM criterion =  .00670976  
Iteration 4:   GMM criterion =  .00670976  

Estimating rho using GS2SLS residuals: 

Iteration 0:   GMM criterion =  .04151708  
Iteration 1:   GMM criterion =  .01174816  
Iteration 2:   GMM criterion =  .00922889  
Iteration 3:   GMM criterion =  .00907144  
Iteration 4:   GMM criterion =  .00905223  
Iteration 5:   GMM criterion =  .00904727  
Iteration 6:   GMM criterion =  .00904566  
Iteration 7:   GMM criterion =  .00904513  
Iteration 8:   GMM criterion =  .00904494  
Iteration 9:   GMM criterion =  .00904487  

Spatial autoregressive model                    Number of obs     =         66
GS2SLS estimates                                Wald chi2(17)     =     277.07
                                                Prob > chi2       =     0.0000
                                                Pseudo R2         =     0.4852

-------------------------------------------------------------------------------
---
       bii_index |      Coef.   Std. Err.      z    P>|z|     [95% Conf. Interv
> al]
-----------------+-------------------------------------------------------------
---
bii_index        |
    Lprivcredit1 |    .036757   .0135974     2.70   0.007     .0101066    .0634
> 074
    Lfdi_in_gdp1 |  -.0610197   .0488734    -1.25   0.212    -.1568098    .0347
> 704
         Lpolity |   .0645744   .0741071     0.87   0.384    -.0806729    .2098
> 217
            Lcpi |  -.0042971   .0271907    -0.16   0.874    -.0575899    .0489
> 958
           Lcbiw |  -.0000296   .0213122    -0.00   0.999    -.0418008    .0417
> 416
       Lbankcon1 |   .0036416   .0188463     0.19   0.847    -.0332964    .0405
> 795
       imf_iiiyr |  -.3860269    .737445    -0.52   0.601    -1.831392    1.059
> 339
                 |
          region |
            EAP  |   1.066854   .9948542     1.07   0.284    -.8830242    3.016
> 733
            ECA  |   3.094668   .6005611     5.15   0.000      1.91759    4.271
> 746
           MENA  |   .6940913   1.003223     0.69   0.489    -1.272189    2.660
> 372
             SA  |   2.819184   .9530976     2.96   0.003     .9511469    4.687
> 221
            SSA  |   1.694548    .614012     2.76   0.006     .4911062    2.897
> 989
                 |
           _cons |  -1.888287   3.024387    -0.62   0.532    -7.815976    4.039
> 402
-----------------+-------------------------------------------------------------
---
Wfbanks_s001     |
       bii_index |  -.0166811    .068976    -0.24   0.809    -.1518716    .1185
> 095
     e.bii_index |   .4060901   .4693454     0.87   0.387      -.51381     1.32
> 599
-----------------+-------------------------------------------------------------
---
Wbankabroad_s001 |
       bii_index |   .1602955   .0900479     1.78   0.075    -.0161951    .3367
> 862
     e.bii_index |  -.5174932   .5149509    -1.00   0.315    -1.526778    .4917
> 921
-----------------+-------------------------------------------------------------
---
Wsamenet_s001    |
       bii_index |   .4155715   .2027194     2.05   0.040     .0182487    .8128
> 942
     e.bii_index |   -6.65385    5.42655    -1.23   0.220    -17.28969    3.981
> 993
-----------------+-------------------------------------------------------------
---
Wsovsame_s001    |
       bii_index |   .5941545   .1424151     4.17   0.000      .315026     .873
> 283
     e.bii_index |  -.8162145    .834958    -0.98   0.328    -2.452702    .8202
> 733
-----------------+-------------------------------------------------------------
---
Wtrade_s001      |
       bii_index |   .0596357    .130676     0.46   0.648    -.1964844    .3157
> 559
     e.bii_index |   .0451746   .7387752     0.06   0.951    -1.402798    1.493
> 147
-------------------------------------------------------------------------------
---
Wald test of spatial terms:          chi2(10) = 43.50     Prob > chi2 = 0.0000

. outreg2 using app9.doc, label dec(3) sdec(3) ctitle(" ") drop(ib3.region) one
> col sortvar(bii_index Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 
> imf_iiiyr) addtext(Region dummies, YES)
app9.doc
dir : seeout

. 
. 
. *** ============================================================
. ** Models with Basel adoption measured using IRT 
. 
. **Table A10: 2008 cross-section
. *Load data
. use "AA-workingdata.dta", replace

. *Keep only obesrvations outside the Basel Committee in the 2008 cross-section
. keep if net_bcbs==0 & year==2008
(2,718 observations deleted)

. *Spatial lags individually: receiving foreign banks
. reg irt_mean_rs Lreceiveforeign_wght_bin_irt Lprivcredit1 Lfdi_in_gdp1 Lpolit
> y Lcpi Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      29.75
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6196
                                                Root MSE          =     .70336

-------------------------------------------------------------------------------
---------------
                             |               Robust
                 irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% 
> Con                                                                          
>    f. Interval]
-----------------------------+-------------------------------------------------
---------------
Lreceiveforeign_wght_bin_irt |   .4055779   .1917321     2.12   0.037     .0241
> 617                                                                          
>        .7869942
                Lprivcredit1 |   .0053104   .0021197     2.51   0.014     .0010
> 936                                                                          
>        .0095272
                Lfdi_in_gdp1 |   .0033701   .0100288     0.34   0.738    -.0165
> 803                                                                          
>        .0233204
                     Lpolity |   .0151699   .0182577     0.83   0.408    -.0211
> 504                                                                          
>        .0514902
                        Lcpi |  -.0125803   .0047309    -2.66   0.009    -.0219
> 915                                                                          
>        -.003169
                       Lcbiw |    .007793   .0042782     1.82   0.072    -.0007
> 177                                                                          
>        .0163037
                   Lbankcon1 |   .0079923   .0039316     2.03   0.045     .0001
> 711                                                                          
>        .0158135
                  Limf_iiiyr |  -.2031372   .2085275    -0.97   0.333    -.6179
> 649                                                                          
>        .2116904
                             |
                      region |
                        EAP  |   .5114522   .2611248     1.96   0.054    -.0080
> 083                                                                          
>        1.030913
                        ECA  |   .8425939   .2995819     2.81   0.006       .24
> 663                                                                          
>        1.438558
                       MENA  |   .6283183   .3823719     1.64   0.104    -.1323
> 412                                                                          
>        1.388978
                         SA  |    1.09447   .3501131     3.13   0.002      .397
> 983                                                                          
>        1.790956
                        SSA  |   .2348914    .214482     1.10   0.277    -.1917
> 816                                                                          
>        .6615645
                             |
                       _cons |  -.4370254   .6794594    -0.64   0.522    -1.788
> 687                                                                          
>        .9146358
-------------------------------------------------------------------------------
---------------

. outreg2 using app10.doc, replace dec(3) sdec(3) ctitle(" ") label sortvar(Lre
> ceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw
> _same  Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon
> 1 Limf_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
app10.doc
dir : seeout

. *Spatial lags individually: banks abroad
. reg irt_mean_rs Lsendingabroad_wght_bin_irt Lprivcredit1 Lfdi_in_gdp1 Lpolity
>  Lcpi Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      28.30
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6091
                                                Root MSE          =     .71299

-------------------------------------------------------------------------------
--------------
                            |               Robust
                irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% C
> on                                                                           
>   f. Interval]
----------------------------+--------------------------------------------------
--------------
Lsendingabroad_wght_bin_irt |    .293959    .200385     1.47   0.146    -.10467
> 06                                                                           
>       .6925886
               Lprivcredit1 |   .0052307   .0025063     2.09   0.040     .00024
> 49                                                                           
>       .0102165
               Lfdi_in_gdp1 |    .004584   .0096295     0.48   0.635    -.01457
> 23                                                                           
>       .0237402
                    Lpolity |   .0194203    .019232     1.01   0.316    -.01883
> 82                                                                           
>       .0576788
                       Lcpi |  -.0132318   .0045517    -2.91   0.005    -.02228
> 64                                                                           
>      -.0041771
                      Lcbiw |   .0071005   .0042075     1.69   0.095    -.00126
> 95                                                                           
>       .0154705
                  Lbankcon1 |   .0070386   .0042592     1.65   0.102    -.00143
> 43                                                                           
>       .0155115
                 Limf_iiiyr |  -.1728937   .2189189    -0.79   0.432    -.60839
> 31                                                                           
>       .2626057
                            |
                     region |
                       EAP  |   .4054216   .2711665     1.50   0.139    -.13401
> 49                                                                           
>       .9448581
                       ECA  |   .8436753   .2879405     2.93   0.004     .27086
> 99                                                                           
>       1.416481
                      MENA  |   .4026287   .4110081     0.98   0.330    -.41499
> 73                                                                           
>       1.220255
                        SA  |   .9954855   .3495806     2.85   0.006     .30005
> 83                                                                           
>       1.690913
                       SSA  |   .0613655   .2226522     0.28   0.784    -.38156
> 07                                                                           
>       .5042916
                            |
                      _cons |  -.0120521   .6350688    -0.02   0.985    -1.2754
> 06                                                                           
>       1.251302
-------------------------------------------------------------------------------
--------------

. outreg2 using app10.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefor
> eign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same  L
> tradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_i
> iiyr) drop(ib3.region) addtext(Region dummies, Yes)
app10.doc
dir : seeout

. *Spatial lags individually: network membership
. reg irt_mean_rs Lnetwork_spw_bin_nobcg_irt Lprivcredit1 Lfdi_in_gdp1 Lpolity 
> Lcpi Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      36.26
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6418
                                                Root MSE          =     .68253

-------------------------------------------------------------------------------
-------------
                           |               Robust
               irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% Co
> n                                                                            
>  f. Interval]
---------------------------+---------------------------------------------------
-------------
Lnetwork_spw_bin_nobcg_irt |   .9464525   .3197635     2.96   0.004      .31034
> 1                                                                            
>      1.582564
              Lprivcredit1 |   .0069347    .002178     3.18   0.002     .002601
> 9                                                                            
>      .0112675
              Lfdi_in_gdp1 |  -.0033529   .0093938    -0.36   0.722    -.022040
> 2                                                                            
>      .0153344
                   Lpolity |    .009409   .0181911     0.52   0.606     -.02677
> 9                                                                            
>      .0455969
                      Lcpi |  -.0183278   .0045465    -4.03   0.000    -.027372
> 3                                                                            
>     -.0092833
                     Lcbiw |    .006447   .0040727     1.58   0.117    -.001654
> 8                                                                            
>      .0145488
                 Lbankcon1 |   .0075671   .0038494     1.97   0.053    -.000090
> 7                                                                            
>      .0152248
                Limf_iiiyr |  -.1643628   .2044067    -0.80   0.424    -.570992
> 9                                                                            
>      .2422673
                           |
                    region |
                      EAP  |   .2294586    .287324     0.80   0.427    -.342120
> 3                                                                            
>      .8010375
                      ECA  |   .7336138   .2912519     2.52   0.014     .154221
> 1                                                                            
>      1.313007
                     MENA  |   .3582182   .3917206     0.91   0.363    -.421038
> 8                                                                            
>      1.137475
                       SA  |   .8605098   .3516864     2.45   0.017     .160893
> 6                                                                            
>      1.560126
                      SSA  |   .3004971   .2133225     1.41   0.163    -.123869
> 2                                                                            
>      .7248635
                           |
                     _cons |   .0919419   .5919806     0.16   0.877    -1.08569
> 6                                                                            
>       1.26958
-------------------------------------------------------------------------------
-------------

. outreg2 using app10.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefor
> eign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same  L
> tradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_i
> iiyr) drop(ib3.region) addtext(Region dummies, Yes)
app10.doc
dir : seeout

. *Spatial lags individually: sovereign credit rating
. reg irt_mean_rs Lsovrating_spw_same_irt Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcp
> i Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      29.28
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6081
                                                Root MSE          =     .71385

-------------------------------------------------------------------------------
----------
                        |               Robust
            irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% Conf.
>  Interval]
------------------------+------------------------------------------------------
----------
Lsovrating_spw_same_irt |   .2911813   .2167272     1.34   0.183    -.1399581  
>   .7223208
           Lprivcredit1 |   .0046535   .0026072     1.78   0.078    -.0005329  
>     .00984
           Lfdi_in_gdp1 |   .0065629   .0103729     0.63   0.529    -.0140721  
>   .0271978
                Lpolity |   .0212821   .0185153     1.15   0.254    -.0155507  
>   .0581149
                   Lcpi |  -.0109195   .0055357    -1.97   0.052    -.0219318  
>   .0000928
                  Lcbiw |   .0060905   .0043783     1.39   0.168    -.0026193  
>   .0148003
              Lbankcon1 |     .00594   .0039687     1.50   0.138     -.001955  
>    .013835
             Limf_iiiyr |  -.1818183   .2188607    -0.83   0.409     -.617202  
>   .2535655
                        |
                 region |
                   EAP  |   .4441232   .2730611     1.63   0.108    -.0990823  
>   .9873287
                   ECA  |   .8924211   .3017669     2.96   0.004     .2921106  
>   1.492732
                  MENA  |   .4810644   .4085026     1.18   0.242    -.3315774  
>   1.293706
                    SA  |    1.02065   .3491774     2.92   0.004     .3260254  
>   1.715275
                   SSA  |   .1071968   .2306164     0.46   0.643    -.3515726  
>   .5659663
                        |
                  _cons |  -.0772997    .653478    -0.12   0.906    -1.377276  
>   1.222676
-------------------------------------------------------------------------------
----------

. outreg2 using app10.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefor
> eign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same  L
> tradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_i
> iiyr) drop(ib3.region) addtext(Region dummies, Yes)
app10.doc
dir : seeout

. *Spatial lags individually: trade "placebo"
. reg irt_mean_rs Ltradebin30_wght_irt Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi L
> cbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(13, 82)         =      28.37
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6042
                                                Root MSE          =     .71743

-------------------------------------------------------------------------------
-------
                     |               Robust
         irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% Conf. In
> terval]
---------------------+---------------------------------------------------------
-------
Ltradebin30_wght_irt |   -.883651   1.112489    -0.79   0.429    -3.096747    1
> .329445
        Lprivcredit1 |   .0051551   .0025126     2.05   0.043     .0001567    .
> 0101536
        Lfdi_in_gdp1 |    .003216    .010477     0.31   0.760    -.0176262    .
> 0240581
             Lpolity |   .0200418   .0179558     1.12   0.268     -.015678    .
> 0557617
                Lcpi |  -.0154562   .0045832    -3.37   0.001    -.0245737   -.
> 0063386
               Lcbiw |   .0065907   .0044186     1.49   0.140    -.0021992    .
> 0153807
           Lbankcon1 |   .0055969   .0040012     1.40   0.166    -.0023629    .
> 0135566
          Limf_iiiyr |  -.2646928   .2164607    -1.22   0.225    -.6953021    .
> 1659164
                     |
              region |
                EAP  |   .5389968   .3220819     1.67   0.098    -.1017268     
> 1.17972
                ECA  |   1.166485   .4293118     2.72   0.008     .3124468    2
> .020523
               MENA  |     .53109     .38805     1.37   0.175    -.2408652    1
> .303045
                 SA  |   1.075031    .335777     3.20   0.002     .4070634    1
> .742998
                SSA  |   .1599145   .2251119     0.71   0.479    -.2879048    .
> 6077338
                     |
               _cons |   .9747375   1.009131     0.97   0.337    -1.032745     
> 2.98222
-------------------------------------------------------------------------------
-------

. outreg2 using app10.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefor
> eign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same  L
> tradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_i
> iiyr) drop(ib3.region) addtext(Region dummies, Yes)
app10.doc
dir : seeout

. *All spatial lags
. reg irt_mean_rs Lreceiveforeign_wght_bin_irt Lsendingabroad_wght_bin_irt Lnet
> work_spw_bin_nobcg_irt Lsovrating_spw_same_irt Lprivcredit1 Lfdi_in_gdp1 Lpol
> ity Lcpi Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(16, 79)         =      36.23
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6670
                                                Root MSE          =     .67044

-------------------------------------------------------------------------------
---------------
                             |               Robust
                 irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% 
> Con                                                                          
>    f. Interval]
-----------------------------+-------------------------------------------------
---------------
Lreceiveforeign_wght_bin_irt |   .2228175   .2008005     1.11   0.271    -.1768
> 658                                                                          
>        .6225009
 Lsendingabroad_wght_bin_irt |   .3086953   .1782259     1.73   0.087    -.0460
> 544                                                                          
>         .663445
  Lnetwork_spw_bin_nobcg_irt |   .8651384   .3356269     2.58   0.012     .1970
> 897                                                                          
>        1.533187
     Lsovrating_spw_same_irt |   .2992084   .1927013     1.55   0.124     -.084
> 354                                                                          
>        .6827707
                Lprivcredit1 |   .0050017   .0022652     2.21   0.030     .0004
> 931                                                                          
>        .0095104
                Lfdi_in_gdp1 |   .0014566   .0092224     0.16   0.875    -.0169
> 001                                                                          
>        .0198134
                     Lpolity |   .0084292   .0179488     0.47   0.640    -.0272
> 971                                                                          
>        .0441554
                        Lcpi |  -.0116504   .0056104    -2.08   0.041    -.0228
> 176                                                                          
>       -.0004832
                       Lcbiw |   .0060437   .0039505     1.53   0.130    -.0018
> 196                                                                          
>         .013907
                   Lbankcon1 |   .0109743   .0041813     2.62   0.010     .0026
> 516                                                                          
>         .019297
                  Limf_iiiyr |  -.0578703   .2032975    -0.28   0.777    -.4625
> 239                                                                          
>        .3467832
                             |
                      region |
                        EAP  |   .2412686   .2530956     0.95   0.343    -.2625
> 055                                                                          
>        .7450428
                        ECA  |   .5667546    .296252     1.91   0.059    -.0229
> 201                                                                          
>        1.156429
                       MENA  |   .4140265   .3804349     1.09   0.280    -.3432
> 103                                                                          
>        1.171263
                         SA  |   .9257488   .3207428     2.89   0.005     .2873
> 261                                                                          
>        1.564171
                        SSA  |   .2802803   .2223349     1.26   0.211    -.1622
> 663                                                                          
>        .7228269
                             |
                       _cons |  -.8381846   .7457306    -1.12   0.264    -2.322
> 524                                                                          
>         .646155
-------------------------------------------------------------------------------
---------------

. outreg2 using app10.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefor
> eign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same  L
> tradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_i
> iiyr) drop(ib3.region) addtext(Region dummies, Yes)
app10.doc
dir : seeout

. *All spatial lags + trade "placebo"
. reg irt_mean_rs Lreceiveforeign_wght_bin_irt Lsendingabroad_wght_bin_irt Lnet
> work_spw_bin_nobcg_irt Lsovrating_spw_same_irt Ltradebin30_wght_irt Lprivcred
> it1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         96
                                                F(17, 78)         =      34.57
                                                Prob > F          =     0.0000
                                                R-squared         =     0.6813
                                                Root MSE          =     .66007

-------------------------------------------------------------------------------
---------------
                             |               Robust
                 irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% 
> Con                                                                          
>    f. Interval]
-----------------------------+-------------------------------------------------
---------------
Lreceiveforeign_wght_bin_irt |   .1965772   .1956666     1.00   0.318    -.1929
> 651                                                                          
>        .5861195
 Lsendingabroad_wght_bin_irt |   .3571758   .1756359     2.03   0.045     .0075
> 117                                                                          
>        .7068399
  Lnetwork_spw_bin_nobcg_irt |   1.017469   .3393549     3.00   0.004     .3418
> 658                                                                          
>        1.693073
     Lsovrating_spw_same_irt |   .2708309   .1971418     1.37   0.173    -.1216
> 483                                                                          
>          .66331
        Ltradebin30_wght_irt |    -1.6898    1.06397    -1.59   0.116    -3.808
> 001                                                                          
>        .4284017
                Lprivcredit1 |   .0041718   .0024146     1.73   0.088    -.0006
> 353                                                                          
>         .008979
                Lfdi_in_gdp1 |  -.0002955   .0099557    -0.03   0.976    -.0201
> 157                                                                          
>        .0195247
                     Lpolity |   .0069416   .0159675     0.43   0.665    -.0248
> 473                                                                          
>        .0387305
                        Lcpi |  -.0141278   .0055997    -2.52   0.014    -.0252
> 759                                                                          
>       -.0029797
                       Lcbiw |   .0051791   .0040311     1.28   0.203    -.0028
> 462                                                                          
>        .0132044
                   Lbankcon1 |   .0116626   .0041854     2.79   0.007     .0033
> 302                                                                          
>         .019995
                  Limf_iiiyr |  -.1205539   .2039942    -0.59   0.556    -.5266
> 751                                                                          
>        .2855673
                             |
                      region |
                        EAP  |   .3749709    .289032     1.30   0.198    -.2004
> 477                                                                          
>        .9503894
                        ECA  |   .9771896   .4208715     2.32   0.023     .1392
> 988                                                                          
>         1.81508
                       MENA  |   .5056255   .3573182     1.42   0.161    -.2057
> 403                                                                          
>        1.216991
                         SA  |   1.025554   .2819425     3.64   0.000     .4642
> 494                                                                          
>        1.586858
                        SSA  |   .3754417   .2344309     1.60   0.113    -.0912
> 743                                                                          
>        .8421576
                             |
                       _cons |   .5923786   1.113693     0.53   0.596    -1.624
> 815                                                                          
>        2.809572
-------------------------------------------------------------------------------
---------------

. outreg2 using app10.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefor
> eign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same  L
> tradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_i
> iiyr) drop(ib3.region) addtext(Region dummies, Yes)
app10.doc
dir : seeout

. 
. 
. **Table A11: 2013 cross-section
. *Load data
. use "AA-workingdata.dta", replace

. *Keep only obesrvations outside the Basel Committee in the 2008 cross-section
. keep if net_bcbs==0 & year==2013
(2,749 observations deleted)

. *Spatial lags individually: receiving foreign banks
. reg irt_mean_rs Lreceiveforeign_wght_bin_irt Lprivcredit1 Lfdi_in_gdp1 Lpolit
> y Lcpi Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       6.66
                                                Prob > F          =     0.0000
                                                R-squared         =     0.3690
                                                Root MSE          =     .70082

-------------------------------------------------------------------------------
---------------
                             |               Robust
                 irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% 
> Con                                                                          
>    f. Interval]
-----------------------------+-------------------------------------------------
---------------
Lreceiveforeign_wght_bin_irt |   .3149647   .0828144     3.80   0.000     .1487
> 078                                                                          
>        .4812216
                Lprivcredit1 |   .0070341   .0038848     1.81   0.076     -.000
> 765                                                                          
>        .0148331
                Lfdi_in_gdp1 |  -.0123276   .0119599    -1.03   0.308    -.0363
> 381                                                                          
>        .0116829
                     Lpolity |  -.0048292   .0216476    -0.22   0.824    -.0482
> 886                                                                          
>        .0386301
                        Lcpi |  -.0051374   .0082756    -0.62   0.538    -.0217
> 515                                                                          
>        .0114766
                       Lcbiw |   .0120734   .0071893     1.68   0.099    -.0023
> 598                                                                          
>        .0265065
                   Lbankcon1 |   .0015302   .0051727     0.30   0.769    -.0088
> 545                                                                          
>        .0119148
                  Limf_iiiyr |  -.0666041   .2189019    -0.30   0.762    -.5060
> 679                                                                          
>        .3728597
                             |
                      region |
                        EAP  |   .3118206   .3143332     0.99   0.326    -.3192
> 297                                                                          
>         .942871
                        ECA  |   .0969411   .4288684     0.23   0.822    -.7640
> 482                                                                          
>        .9579304
                       MENA  |   .5461006   .4005526     1.36   0.179    -.2580
> 424                                                                          
>        1.350244
                         SA  |   .7040296   .4115835     1.71   0.093    -.1222
> 588                                                                          
>        1.530318
                        SSA  |   .1488096   .2676488     0.56   0.581    -.3885
> 178                                                                          
>         .686137
                             |
                       _cons |   -.460392   .7793832    -0.59   0.557    -2.025
> 069                                                                          
>        1.104285
-------------------------------------------------------------------------------
---------------

. outreg2 using app11.doc, replace dec(3) sdec(3) ctitle(" ") label sortvar(Lre
> ceiveforeign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw
> _same  Ltradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon
> 1 Limf_iiiyr) drop(ib3.region) addtext(Region dummies, Yes)
app11.doc
dir : seeout

. *Spatial lags individually: banks abroad
. reg irt_mean_rs Lsendingabroad_wght_bin_irt Lprivcredit1 Lfdi_in_gdp1 Lpolity
>  Lcpi Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       5.30
                                                Prob > F          =     0.0000
                                                R-squared         =     0.3408
                                                Root MSE          =     .71632

-------------------------------------------------------------------------------
--------------
                            |               Robust
                irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% C
> on                                                                           
>   f. Interval]
----------------------------+--------------------------------------------------
--------------
Lsendingabroad_wght_bin_irt |   .3021495   .1857831     1.63   0.110    -.07082
> 56                                                                           
>       .6751246
               Lprivcredit1 |   .0079362   .0037369     2.12   0.039     .00043
> 41                                                                           
>       .0154384
               Lfdi_in_gdp1 |  -.0094277   .0132273    -0.71   0.479    -.03598
> 26                                                                           
>       .0171273
                    Lpolity |   .0129104   .0207654     0.62   0.537     -.0287
> 78                                                                           
>       .0545987
                       Lcpi |   .0020741   .0083625     0.25   0.805    -.01471
> 44                                                                           
>       .0188625
                      Lcbiw |   .0094212   .0071933     1.31   0.196    -.00501
> 99                                                                           
>       .0238622
                  Lbankcon1 |  -.0005306   .0050921    -0.10   0.917    -.01075
> 35                                                                           
>       .0096923
                 Limf_iiiyr |  -.1160675   .2247675    -0.52   0.608    -.56730
> 72                                                                           
>       .3351721
                            |
                     region |
                       EAP  |   .1597944   .3137201     0.51   0.613    -.47002
> 49                                                                           
>       .7896137
                       ECA  |   .3709886   .4170342     0.89   0.378    -.46624
> 24                                                                           
>        1.20822
                      MENA  |   .4493455   .4167154     1.08   0.286    -.38724
> 56                                                                           
>       1.285937
                        SA  |   .6394529   .3876272     1.65   0.105    -.13874
> 12                                                                           
>       1.417647
                       SSA  |   .2248307   .2741982     0.82   0.416    -.32564
> 51                                                                           
>       .7753065
                            |
                      _cons |   -.378748   .8133025    -0.47   0.643    -2.0115
> 21                                                                           
>       1.254025
-------------------------------------------------------------------------------
--------------

. outreg2 using app11.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefor
> eign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same  L
> tradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_i
> iiyr) drop(ib3.region) addtext(Region dummies, Yes)
app11.doc
dir : seeout

. *Spatial lags individually: network membership
. reg irt_mean_rs Lnetwork_spw_bin_wbcg_irt Lprivcredit1 Lfdi_in_gdp1 Lpolity L
> cpi Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       6.33
                                                Prob > F          =     0.0000
                                                R-squared         =     0.3685
                                                Root MSE          =     .70112

-------------------------------------------------------------------------------
------------
                          |               Robust
              irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% Con
> f. Interval]
--------------------------+----------------------------------------------------
------------
Lnetwork_spw_bin_wbcg_irt |    .513234   .1604784     3.20   0.002     .1910602
>     .8354078
             Lprivcredit1 |   .0070939   .0040577     1.75   0.086    -.0010522
>     .0152399
             Lfdi_in_gdp1 |  -.0158044   .0110815    -1.43   0.160    -.0380515
>     .0064427
                  Lpolity |     .00652   .0192401     0.34   0.736    -.0321061
>     .0451461
                     Lcpi |  -.0054542   .0081828    -0.67   0.508    -.0218818
>     .0109734
                    Lcbiw |   .0018358   .0077352     0.24   0.813    -.0136933
>     .0173648
                Lbankcon1 |  -.0032066   .0050276    -0.64   0.526    -.0132999
>     .0068867
               Limf_iiiyr |  -.0303051   .2267621    -0.13   0.894     -.485549
>     .4249387
                          |
                   region |
                     EAP  |   .0327313   .3075679     0.11   0.916     -.584737
>     .6501996
                     ECA  |  -.0601493   .3922349    -0.15   0.879    -.8475938
>     .7272952
                    MENA  |   .5307946   .3746251     1.42   0.163    -.2212966
>     1.282886
                      SA  |   .3167549   .3598957     0.88   0.383    -.4057658
>     1.039276
                     SSA  |   .4886395   .2863608     1.71   0.094    -.0862539
>     1.063533
                          |
                    _cons |   .4875318   .8105329     0.60   0.550    -1.139681
>     2.114744
-------------------------------------------------------------------------------
------------

. outreg2 using app11.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefor
> eign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same  L
> tradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_i
> iiyr) drop(ib3.region) addtext(Region dummies, Yes)
app11.doc
dir : seeout

. *Spatial lags individually: sovereign credit rating
. reg irt_mean_rs Lsovrating_spw_same_irt Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcp
> i Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       6.66
                                                Prob > F          =     0.0000
                                                R-squared         =     0.4013
                                                Root MSE          =     .68265

-------------------------------------------------------------------------------
----------
                        |               Robust
            irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% Conf.
>  Interval]
------------------------+------------------------------------------------------
----------
Lsovrating_spw_same_irt |   .3832431   .1019186     3.76   0.000      .178633  
>   .5878533
           Lprivcredit1 |   .0038697   .0042691     0.91   0.369    -.0047009  
>   .0124403
           Lfdi_in_gdp1 |  -.0118959   .0146022    -0.81   0.419    -.0412111  
>   .0174193
                Lpolity |   .0098588   .0216296     0.46   0.650    -.0335644  
>   .0532819
                   Lcpi |  -.0000213   .0079845    -0.00   0.998     -.016051  
>   .0160083
                  Lcbiw |   .0051753   .0067814     0.76   0.449    -.0084389  
>   .0187895
              Lbankcon1 |  -.0038379   .0051038    -0.75   0.456    -.0140842  
>   .0064083
             Limf_iiiyr |  -.0626928   .2058263    -0.30   0.762    -.4759063  
>   .3505208
                        |
                 region |
                   EAP  |   .3255764   .2930008     1.11   0.272    -.2626473  
>   .9138001
                   ECA  |   .4681428   .3788282     1.24   0.222    -.2923865  
>   1.228672
                  MENA  |   .7807311   .3977096     1.96   0.055    -.0177043  
>   1.579166
                    SA  |   .8952449   .3873981     2.31   0.025     .1175108  
>   1.672979
                   SSA  |   .3305361   .2498575     1.32   0.192    -.1710737  
>   .8321459
                        |
                  _cons |   .2000508   .7828181     0.26   0.799    -1.371522  
>   1.771624
-------------------------------------------------------------------------------
----------

. outreg2 using app11.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefor
> eign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same  L
> tradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_i
> iiyr) drop(ib3.region) addtext(Region dummies, Yes)
app11.doc
dir : seeout

. *Spatial lags individually: trade "placebo"
. reg irt_mean_rs Ltradebin30_wght_irt Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi L
> cbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(13, 51)         =       5.51
                                                Prob > F          =     0.0000
                                                R-squared         =     0.3145
                                                Root MSE          =     .73046

-------------------------------------------------------------------------------
-------
                     |               Robust
         irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% Conf. In
> terval]
---------------------+---------------------------------------------------------
-------
Ltradebin30_wght_irt |  -1.002123   .8341236    -1.20   0.235    -2.676696    .
> 6724496
        Lprivcredit1 |   .0080569   .0042331     1.90   0.063    -.0004414    .
> 0165551
        Lfdi_in_gdp1 |  -.0153687   .0131684    -1.17   0.249    -.0418053    .
> 0110679
             Lpolity |   .0163372   .0220149     0.74   0.461    -.0278595    .
> 0605339
                Lcpi |  -.0072438   .0087066    -0.83   0.409     -.024723    .
> 0102355
               Lcbiw |   .0082088   .0073502     1.12   0.269    -.0065474     
> .022965
           Lbankcon1 |  -.0014123   .0058703    -0.24   0.811    -.0131975    .
> 0103728
          Limf_iiiyr |  -.1309306   .2363274    -0.55   0.582    -.6053777    .
> 3435164
                     |
              region |
                EAP  |   .5516656   .4640469     1.19   0.240    -.3799474    1
> .483279
                ECA  |   .5693746   .5222577     1.09   0.281    -.4791014    1
> .617851
               MENA  |   .7932223   .4573806     1.73   0.089    -.1250075    1
> .711452
                 SA  |   .9746288   .4990071     1.95   0.056    -.0271697    1
> .976427
                SSA  |   .4391911   .3504114     1.25   0.216    -.2642892    1
> .142671
                     |
               _cons |   2.193025   1.715833     1.28   0.207    -1.251653    5
> .637703
-------------------------------------------------------------------------------
-------

. outreg2 using app11.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefor
> eign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same  L
> tradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_i
> iiyr) drop(ib3.region) addtext(Region dummies, Yes)
app11.doc
dir : seeout

. *All spatial lags
. reg irt_mean_rs Lreceiveforeign_wght_bin_irt Lsendingabroad_wght_bin_irt Lnet
> work_spw_bin_wbcg_irt Lsovrating_spw_same_irt Lprivcredit1 Lfdi_in_gdp1 Lpoli
> ty Lcpi Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(16, 48)         =       8.29
                                                Prob > F          =     0.0000
                                                R-squared         =     0.4893
                                                Root MSE          =     .64987

-------------------------------------------------------------------------------
---------------
                             |               Robust
                 irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% 
> Con                                                                          
>    f. Interval]
-----------------------------+-------------------------------------------------
---------------
Lreceiveforeign_wght_bin_irt |   .1316608    .077306     1.70   0.095    -.0237
> 732                                                                          
>        .2870949
 Lsendingabroad_wght_bin_irt |     .16195   .1590028     1.02   0.314    -.1577
> 466                                                                          
>        .4816465
   Lnetwork_spw_bin_wbcg_irt |   .3582241    .161032     2.22   0.031     .0344
> 476                                                                          
>        .6820006
     Lsovrating_spw_same_irt |   .3050749    .101775     3.00   0.004     .1004
> 426                                                                          
>        .5097073
                Lprivcredit1 |   .0024324   .0036842     0.66   0.512    -.0049
> 751                                                                          
>        .0098399
                Lfdi_in_gdp1 |  -.0113038   .0144365    -0.78   0.437    -.0403
> 304                                                                          
>        .0177228
                     Lpolity |   .0006971   .0193882     0.04   0.971    -.0382
> 854                                                                          
>        .0396797
                        Lcpi |   .0009468   .0068088     0.14   0.890    -.0127
> 433                                                                          
>        .0146369
                       Lcbiw |     .00373   .0076457     0.49   0.628    -.0116
> 427                                                                          
>        .0191027
                   Lbankcon1 |   -.000754   .0045501    -0.17   0.869    -.0099
> 027                                                                          
>        .0083946
                  Limf_iiiyr |  -.0771959   .1960287    -0.39   0.695    -.4713
> 379                                                                          
>        .3169462
                             |
                      region |
                        EAP  |   .1084835    .275641     0.39   0.696    -.4457
> 299                                                                          
>        .6626969
                        ECA  |   .1105577   .3537496     0.31   0.756    -.6007
> 036                                                                          
>         .821819
                       MENA  |   .5794898   .4103869     1.41   0.164    -.2456
> 483                                                                          
>        1.404628
                         SA  |   .6085793   .2693242     2.26   0.028     .0670
> 668                                                                          
>        1.150092
                        SSA  |   .4338882   .2762673     1.57   0.123    -.1215
> 844                                                                          
>        .9893608
                             |
                       _cons |  -.3769856   .6721561    -0.56   0.578    -1.728
> 446                                                                          
>        .9744748
-------------------------------------------------------------------------------
---------------

. outreg2 using app11.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefor
> eign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same  L
> tradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_i
> iiyr) drop(ib3.region) addtext(Region dummies, Yes)
app11.doc
dir : seeout

. *All spatial lags + trade "placebo"
. reg irt_mean_rs Lreceiveforeign_wght_bin_irt Lsendingabroad_wght_bin_irt Lnet
> work_spw_bin_wbcg_irt Lsovrating_spw_same_irt Ltradebin30_wght_irt Lprivcredi
> t1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_iiiyr ib3.region, robust

Linear regression                               Number of obs     =         65
                                                F(17, 47)         =       7.81
                                                Prob > F          =     0.0000
                                                R-squared         =     0.4902
                                                Root MSE          =     .65619

-------------------------------------------------------------------------------
---------------
                             |               Robust
                 irt_mean_rs |      Coef.   Std. Err.      t    P>|t|     [95% 
> Con                                                                          
>    f. Interval]
-----------------------------+-------------------------------------------------
---------------
Lreceiveforeign_wght_bin_irt |   .1296387   .0811283     1.60   0.117    -.0335
> 703                                                                          
>        .2928477
 Lsendingabroad_wght_bin_irt |   .1574028   .1614729     0.97   0.335    -.1674
> 387                                                                          
>        .4822443
   Lnetwork_spw_bin_wbcg_irt |   .3439714   .1548022     2.22   0.031     .0325
> 496                                                                          
>        .6553931
     Lsovrating_spw_same_irt |   .3037028   .1030802     2.95   0.005     .0963
> 323                                                                          
>        .5110733
        Ltradebin30_wght_irt |  -.2118992   .7831687    -0.27   0.788    -1.787
> 431                                                                          
>        1.363633
                Lprivcredit1 |   .0023591   .0038116     0.62   0.539    -.0053
> 089                                                                          
>         .010027
                Lfdi_in_gdp1 |  -.0117254    .015096    -0.78   0.441    -.0420
> 947                                                                          
>        .0186438
                     Lpolity |   .0019532   .0204003     0.10   0.924    -.0390
> 869                                                                          
>        .0429932
                        Lcpi |   .0002045   .0071375     0.03   0.977    -.0141
> 543                                                                          
>        .0145633
                       Lcbiw |   .0038878   .0074352     0.52   0.604    -.0110
> 698                                                                          
>        .0188454
                   Lbankcon1 |  -.0004934   .0049899    -0.10   0.922    -.0105
> 318                                                                          
>        .0095451
                  Limf_iiiyr |  -.0924479   .2017973    -0.46   0.649    -.4984
> 117                                                                          
>        .3135158
                             |
                      region |
                        EAP  |   .1759794   .4279015     0.41   0.683    -.6848
> 474                                                                          
>        1.036806
                        ECA  |   .1744041   .4957114     0.35   0.727    -.8228
> 387                                                                          
>        1.171647
                       MENA  |   .6228331   .4810198     1.29   0.202     -.344
> 854                                                                          
>         1.59052
                         SA  |    .683112   .4191982     1.63   0.110     -.160
> 206                                                                          
>         1.52643
                        SSA  |   .4689921   .3626201     1.29   0.202    -.2605
> 053                                                                          
>         1.19849
                             |
                       _cons |   .0284306    1.65993     0.02   0.986    -3.310
> 918                                                                          
>        3.367779
-------------------------------------------------------------------------------
---------------

. outreg2 using app11.doc, dec(3) sdec(3) ctitle(" ") label sortvar(Lreceivefor
> eign_wght_bin Lsendingabroad_wght_bin Lnetwork_spw_bin Lsovrating_spw_same  L
> tradebin30_wght Lprivcredit1 Lfdi_in_gdp1 Lpolity Lcpi Lcbiw Lbankcon1 Limf_i
> iiyr) drop(ib3.region) addtext(Region dummies, Yes)
app11.doc
dir : seeout

.  
. 
. 
. 
end of do-file

